Howard Hughes

Howard Hughes Corp. seeks to have tax reduced on undeveloped land
Howard Hughes Corporation has filed suit in district court seeking to have reduced the estimated value of more than $ 50 million for 5541 acres of undeveloped land in the area of ​​Summerlin.

The initial value of the land was put at $ 249.3 million for the Assessor Clark County, but County Board of Equalization lowered it to $ 149.7 million.

Assessor's office requested the State Board of Equalization, which put the value of $ 200 million.

Hughes Corporation wants to set the taxable value back to $ 149.7 million. It says the decision of the Board of Equalization State was "clearly erroneous, arbitrary, capricious and characterized by abuse of discretion."

The company said one member of the Council of State proposed to establish the value of $ 200 million as a compromise.

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