The owner of the property where the MGM National Harbor sits convinced the Maryland Tax Court to shave $147 million off its tax valuation in an opinion released Friday.
MGM built the casino, hotel, and convention space under a ground lease with property owner National Harbor Grand LLC from 2014-2016. The tax court reduced the proper cash value of the property to $1 billion from the Prince George’s County Supervisor of Assessments’ valuation of $1.15 billion for tax year 2019.
The court agreed with the owner that “super-adequacy costs,” which the court defined as “overbuilding for which a ...
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