Ark Encounter sued by a Kentucky board of education for undervalued property

[TexasTowelie]

The Grant County Board of Education has sued Ark Encounter and the county's property valuation administrator for undervaluing the life-size replica of Noah's Ark in Northern Kentucky.

This undervalued property has allowed Ark Encounter to underpay taxes owed to the board, according to the lawsuit, which was filed in the Grant Circuit Court on July 1.

For the 2017 tax year, the Grant County PVA assessed Ark Encounter's property at $48,068,200.

However, the education board challenged this number in a 2018 appeal to the Grant County Board of Assessment Appeals. Using statements and documents generated by Ark Encounter, the board said the property has a true fair cash value of $130 million, which is more than 2.7 times the original valuation.

Read more: https://www.courier-journal.com/story/news/local/northeast/2019/08/27/ark-encounter-kentucky-pva-sued-for-undervalued-property/2128604001/