Dark store loophole
|Date:||August 28, 2018|
The dark store loophole is a tax break opportunity that a few commercial property owners use to save themselves from paying their fair share of property taxes.
Watch this brief video to learn more about the dark store loophole.
Tax attorneys for big box stores use the dark store loophole to argue that the value of a new store in a busy, popular area should be based on the value of empty vacant stores.
If a big box retailer uses the dark store loophole to cut the amount they pay in property taxes, then residents and other taxpayers have to pay the difference in order to maintain current city services.
In February, 2018, the West Bend Common Council approved a resolution requesting the State Legislature to pass two bills to encourage the legislature to adopt changes to close this loophole.
If this loophole is not fixed, the tax burden shifts to homeowners.
Contact your legislators to tell them what you think about this important tax issue.