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Court: Redding's valuation of Meadow Ridge property 'excessive'

A Superior Court judge has found Redding's valuation of the Meadow Ridge retirement community property to be excessive, but that Redding Life Care’s multiple expert witnesses were unreliable.  The Newstimes reports that Redding officials haven't decided yet whether to appeal the ruling in the nearly nine-year court battle over the town’s tax assessment.  

Redding Life Care filed a suit in June 2013 claiming that Redding owed them money over the improper assessment of their 136-acre campus in 2012.  The assessment was $112.5 million, but the company claims the value was $84 million.  The ruling says the court's calculation is $92 million.  The judge has yet to dictate how $2.5 million owed to Redding Life Care by the town would be paid.  Meadow Ridge is the largest employer and biggest taxpayer in Redding. 

If an appeal is going to be filed by Redding, it must by done by Thursday. The next court date is set for February 28th.

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Rich Valdes

Local Headlines