Domtar has won its tax appeal in Cornwall, Ontario. Domtar will receive a refund amounting to $700,000 of the roughly $2.8 million in taxes it paid on the mill property during its last three years of operation.

The amount of the tax rebate - which was agreed upon by the city, Domtar and the Municipal Property Assessment Corporation (MPAC) - was much less than what the paper company had originally been seeking.

Several months ago, Domtar launched an appeal of the assessment value for the mill property for the years 2004, 2005 and 2006, arguing the values didn't accurately reflect the property's actual market value. The original assessment values for the mill during those years were $22.7 million, $22.6 million and $17.8 million respectively.

The Domtar Cornwall mill closed in March 2006 and was sold to Paris Holdings for $4 million several months later.

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$700,000 tax refund for Domtar (Standard Freeholder)