MEMPHIS, Tenn. - Nearly two weeks after Electrolux announced its plans to close its Memphis plant, the Shelby County Assessor’s Office is working to get the Swedish appliance company back on tax payroll by Feb. 28.
Last week, County Assessor Melvin Burgess told commissioners the most recent appraisal for Electrolux’s property was “grossly unvalued.”
The assessor’s office said the current record only reflects about 45 percent of the property’s true value.
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Burgess served a notice of intent to enter property last Thursday and request two years’ worth of books and accounting records. His office said it’ll help them determine the true value of the real estate, tangible and intangible property.
Former Shelby County Commissioner Terry Roland said he supports these latest efforts to recoup some tax dollars.
“The state money that they put in, the state’s not going to lose that because they’re continuing to be in the state of Tennessee, but Memphis and Shelby County – by not having a clawback provision in there – we’re the big losers here and that’s wrong,” said Roland.
FOX13 also obtained a copy of the city, county and state contract with Electrolux from 2011. The contract states the real property value for the project site was initially set at $8 million and would be reassessed every four years.
But the assessor’s office said when the property was reappraised in 2017, the team was understaffed and didn’t factor in special features. A spokesperson for the office state a team of senior level appraisers have obtained advanced aerial images of the Electrolux site and are in the process of making adjustments to all property records.
In a press release, Assessor Burgess said: “The Tennessee Constitution will only allow us to back date errors up to two years. We are correcting records for 2017 and 2018. Electrolux will be placed back on the assessment roll by February 28th.”
As of Monday afternoon, the county assessor’s office said Electrolux hadn’t responded to the notice.
Once assessment is complete, it will be the county trustee’s responsibility to collect back taxes.
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