CARSON CITY - The Howard Hughes Corp. filed a complaint in District Court seeking to have the assessed value reduced by more than $ 50 million in 5541 acres of undeveloped land in the area Summerlin.
The initial value of the land has been placed by 249.3 million dollars by the Clark County assessor, but the County Council its equalization lowered to 149.7 million dollars.
The assessor's office has appealed to the State Council of Equalization, which put the value at $ 200 million.
The Hughes Corp. wants to reduce the assessed value of $ 149.7 million. He says that the decision of the Board of Equalization State was "clearly erroneous, arbitrary, capricious and characterized by abuse of power."
The company said a member of the State Council suggested the value is set at $ 200 million as a compromise.
The assessor's office has appealed to the State Council of Equalization, which put the value at $ 200 million.
The Hughes Corp. wants to reduce the assessed value of $ 149.7 million. He says that the decision of the Board of Equalization State was "clearly erroneous, arbitrary, capricious and characterized by abuse of power."
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