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Casino Off the Hook for $5.6M in Taxes After Lawsuit Settled27 January 2004GULFPORT, Mississippi – As reported by the Sun Herald: ``The Imperial Palace will save more than $5 million in property taxes over the next eight years under a settlement agreement reached Monday. ``The Imperial Palace sued Harrison County in 2000, alleging the county's $128 million tax assessment of the business was too high. ``A specially appointed Chancery Court judge agreed and said the county could not document how it determined the $128 million value. The judge said the value of the casino was $83 million. ``Because of the decision, county tax assessors had to recalculate all casino values. ``…Under current tax rates, the casino would pay roughly $1.4 million in taxes a year…" |