Resolute Forest Products wants Thunder Bay, ON mill reassessed for tax savings
Resolute Forest Products is appealing the assessed value of its pulp and paper mill in Thunder Bay, Ontario.
The mill is currently assessed for $72 million. Resolute wants a reduction of 60% in the value, retroactive to 2009.
This would result in a $7 million refund from the City of Thunder Bay for the previous years combined, and a loss of $1.8 million for each year in the future.
Thunder Bay’s mayor, Keith Hobbs, said if MPAC (the Municipal Property Assessment Corporation) reduces the mill’s value by 60%, Resolute Forest Products would pay less taxes than Thunder Bay’s shopping mall, the Intercity Mall. “Big business, industry, has to pay their share,” Hobbs said.
MPAC will hold a hearing on the reassessment in June.
Resolute seeks tax cut (The Chronicle Journal)
Resolute asks Thunder Bay for ‘ridiculous’ tax break (CBC)
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