Resorts casino saves $1.3M through tax appeal
ATLANTIC CITY (AP) — Another Atlantic City casino is in for big tax savings following a deal it negotiated with the city.
Resorts Casino Hotel will see its assessment slashed by a third over the next two years, and will save about $1.3 million in taxes over that period.
The Press of Atlantic City reports the settlement was reached last month and revealed this week after a public records request.
The casino’s assessed value will fall from $165 million in 2013 to $120 million this year, and $110 million next year.
Resorts is dropping its appeal of this year’s taxes.
It is the latest in a series of successful casino tax appeals that have cost the city money.
The casinos are worth less now because of the decline in Atlantic City’s gambling market.
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