WAUSAU, Wis (WSAU) Several large businesses are suing Wausau, saying the city over-estimated the value of their property and over-charged them for property tax. The lawsuits were filed by Applebees, Sears, and Walgreens.
Applebees says their property on Wausau's west side is over-assess by at least a half-million dollars. They claim they overpaid their property taxes by at least $11,000.
The two Walgreens locations on Stewart Avenue and Bridge Street claim the assessed their stores at a per-square-foot price that's equal to a major city like Chicago. They say most Walgreens in similar cities are assessed at $2-million. Wausau's valuation is $5.5-million. Walgreens says it overpaid its property tax by at least $110,000.
Sears claims its downtown location is worth no more than $3.1-million. The city values the property at $5.8-million. Sears is seeking a tax refund of $60,000.
The city assessor’s office says commercial property values change because on the economy. They stand by their 2013 numbers.