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Spotsy Kohl’s has highest assessed value of chain of stores in area

The Kohl’s property in Spotsylvania County has the highest assessed value per square foot of any of the company’s three Fredericksburg-area properties.

The Kohl’s store in Cosner’s Corner is also the largest and newest of the company’s three area stores, according to property records in the three localities.

Kohl’s says Spotsylvania has inflated the taxable value of its store by millions of dollars since 2008. Spotsylvania officials recently offered $25,000 to Kohl’s to settle a lawsuit the department store chain filed against the county. A two-day trial has been scheduled for September if the two parties don’t reach an agreement by then.

The 88,729-square-foot Kohl’s store at 9683 Jefferson Davis Highway in Spotsylvania was built in 2007. It’s assessed at $13,446,900, or about $151.55 per square foot.

The company’s Fredericksburg store, at 1571 Carl D. Silver Parkway in Central Park, was built in 1997 and is 80,668 square feet. The assessed value is $8,727,500, or about $108.19 per square foot.

The North Stafford store at 1220 Stafford Marketplace off Garrisonville Road was built in 2003 and is 88,016 square feet. The assessed value is $11,516,600, or about $130.85 per square foot.

Kohl’s says in its suit that the Spotsylvania property is actually worth $6.6 million, or about half its assessed value. The company’s lawsuit is at least the fourth in recent years disputing property assessments in Spotsylvania.

Bill Freehling: 540/374-5405

bfreehling@freelancestar.com

 

Permalink: http://news.fredericksburg.com/newsdesk/2013/02/26/spotsy-kohls-has-highest-assessed-value-of-its-chain-of-stores-in-area/

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