Porter and Lake counties to defend against Cleveland-Cliffs assessment challenge
The dispute could ultimately be decided by the Indiana Board of Tax Review in Indianapolis.
Porter County Assessor Sue Neff during Wednesday's Burns Harbor Town Council meeting requested that the town pitch in up to $23,000 toward hiring an appraiser and legal assistance to make Porter County's case.
Neff said she believes it may cost up to $100,000 for the county to present its defense before the Indiana Board of Tax Review. She is also soliciting financial help from the Duneland School Corporation and the Westchester Public Library.
'We just feel we really have to fight this,' Neff said.
The Indiana Department of Local Government Finance set the value of land and structures owned by Cleveland-Cliffs in Porter County at $134,557,900 this year, which is a more than $16 million increase. Taxes are paid the next year based on the valuation from the prior year.
The higher valuation would mean increased collections of $348,000 next year, Neff said. Cleveland-Cliffs pays nearly $2.6 million in property taxes this year, according to the Porter County Auditor's Office.
Cleveland-Cliffs reacted to its increased tax assessment with an appeal to the Indiana Board of Tax Review.
Neff said the initial step is for the county to hire its own appraiser, who would do an independent appraisal of the land and structures of Cleveland-Cliffs.
'If you don't have an appraisal, you're never going to win,' Neff said.
Neff said she believes that large industrial properties, like Cleveland-Cliffs, have been traditionally undervalued in tax assessments.
Cleveland-Cliffs has recently reported losses in quarterly earnings statements, which may be a factor in their decision to challenge the tax assessment, Neff said.
'We believe that they want to go even lower than last year's assessment, which is money out of all the taxing units' pockets,' Neff said.
Burns Harbor would receive $77,000 in additional tax receipts next year if the $16 million increase in assessed valuation held, Neff said.
It's important to protect the flow of tax receipts coming from Cleveland-Cliffs, especially with recent Indiana Senate Bill 1 limiting the growth of future tax receipts for local governments, Neff said.
'What my hope is once I get this appraisal, we're going to be able to sit down with these Cleveland-Cliffs people,' Neff said.
If the appraisals are close, Neff believes a settlement could possibly be reached rather than going before the Indiana Board of Tax Review. That would also reduce the expense that would come from having a hearing before the board.
Neff said she has also talked with the Duneland School Corporation — which would stand to lose the most potential tax revenue — and the Westchester Public Library about contributing toward the county's effort.
The Burns Harbor Town Council decided that it needed more time to review Neff's request. The council could vote on the proposal next month.
Town Attorney Clay Patton suggested that the town — which deals daily with the town's largest employer — could make their own contacts with the company to determine what they are seeking.
Council members and Neff said that Cleveland-Cliffs has been a 'good neighbor' and has made many contributions to the local community over the years.
Cleveland-Cliffs officials didn't return a message seeking comment.
Meanwhile, Lake County Assessor Latonya Spearman said that she has talked with Neff and is leaning toward joining in the defense of the tax assessment of Cleveland-Cliffs.
The tax assessment of Cleveland-Cliffs operations in Lake County was scheduled to rise to $121,970,300 this year, up from $114,997100.
The steelmaker's operations in East Chicago yielded $3,498,579 in tax collections for Lake County this year, Spearman said.
Spearman said a frustration is that the counties have nothing to do with setting the assessments for large industrial properties — that is done by the Department of Local Government Finance.
'We're just trying to work through all the red tape. It does appear that we're moving in the same direction,' Spearman said, regarding joining a defense to the challenge from Cleveland-Cliffs.
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And I think Adam shares a similar thesis. We have commercial infrastructure. We have administrative infrastructure. We have marketing infrastructure. We have venues, right? And so when you start thinking about the infrastructure we can wrap around these assets — and by the way, we have decades of institutional knowledge of how to operate them, both on the business side, but also on the basketball side. There's no doubt there's nuances and there's differences across the board, but, yeah, I think it's very intentional in regards to how the league is expanding. An existing NBA owner is also a minority owner of the WNBA in the current financial structure. So there's a lot of incentive from our perspective to be a part of the growth of the WNBA, and I think Adam is really driving that in partnership with Cathy. The $250 million expansion fee is a really interesting number. 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It's another dimension for us to be able to host on there as well. It's a key component and a key asset of this portfolio and this broader platform that we've been building for quite some time now, and it's the perfect complement. So when you have those types of dynamics, you do your diligence, you make sure you're being responsible with the financial resources that you're deploying. But we are firm believers that the best days of this league are in front of us. … If this thing gets to 25, 30 teams, which we think it will, that is all green field opportunity in regards to expansion of regular-season games, expansion of playoff games, expansion of media rights. What you're seeing right now is the fundamental and foundational return of the WNBA, and it's going to be a foundation that's going to launch it to new heights, sustainable heights. I know there's some owners out there that are aspiring for billion-dollar valuations over a period of time, we fully support that. 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