ORDERS:
ORDER
Prior to the above-captioned matter coming to be heard, the parties announced
to the Court that the above-captioned matter had been settled. The settlement is as
follows:
1200 THIRD AVENUE, CONWAY TMS # 137-06-18-003
The Plaintiff disputed the number of square feet which was being assessed in the
second floor of its bank building. It also disputed the classification of the second floor
as a bank as opposed to storage space. There is no dispute as to the square footage of
the first floor. the parties agree that the second floor contains 1,404 square feet and
the entire building should be assessed as a bank building. Thus, the County will issue
a refund for the years 1992, 1993 and 1994 based on this agreement. The Plaintiff
acknowledges that the statute of limitations has run for taxes assessed and paid on this
property for the years 1988, 1989, 1990 and 1991. This agreement resolves all
disputes governing taxation of this property by Horry County for the years 1988
through 1994. Further, the 1995 tax bill will be modified in accordance with the
agreement of the parties.
7400 NORTH KINGS HIGHWAY, MYRTLE BEACH TMS # 165-15-03-001
The Plaintiff disputes the valuation placed on the above-described property by
the Defendant. The specific dispute is with the number of square feet on the second
floor of the building which was actually leased as commercial office space versus
portions thereof which allegedly were not fit and complete for occupancy. The County
taxed the entire second floor as commercial office space. The parties have agreed that
the valuation of this property for the year 1992 should be decreased by $36,000, the
valuation for 1994 should be decreased by $32,000. The entire second floor of the
building was completed during the year 1994 and used as commercial office space.
Thus, the parties agree for the year 1995, the entire second floor should be valued as
commercial office space and taxed accordingly. Thus, the Defendant will issue a
refund to the bank for the years 1992, 1993 and 1994 commensurate with the decrease
in valuation set forth above. The Plaintiff acknowledges that the statute of limitations
has run for taxes assessed and paid on this property for all years preceding 1992.
Further, the parties acknowledge that this agreement resolves all disputes governing
taxation of this property by Horry County for all years up to and including 1994.
Further, the Plaintiff agrees not to dispute the fact that the 1995 tax bill includes the
entire second floor of the bank building being assessed as commercial office space.
IT IS HEREBY ORDERED, ADJUDGED AND DECREED that the above-captioned action be dismissed with prejudice.
AND IT IS SO ORDERED this _____ day of ___________, 1995.
Columbia, South Carolina
__________________________________________
The Honorable Marvin F. Kittrell
Chief Administrative Law Judge
WE CONSENT:
______________________
Michael H. Montgomery
Attorney for the Plaintiff
______________________
Linda Weeks Gangi
Attorney for the Defendant |
