Casino Value
2:26 pm
Tue September 20, 2011

St. Louis County casinos' assessed values cut

St. Louis County's assessor is assailing a board's decision to cut the assessed value of the county's two casinos in a move that will cost school, fire and other districts millions of dollars in tax revenue.

The St. Louis Post-Dispatch reports that the county's Board of Equalization assessed the value of Harrah's casino in Maryland Heights at $152 million. That's down $288 million from the county's assessment of it May.

The independent board cut the assessed value of the River City Casino in Lemay to $145 million less than the $284 million May assessment.

The board didn't immediately publicly comment. But county assessor Jake Zimmerman calls the reductions "outrageous" and wants the board to reconsider.

The county is calculating how much tax revenue the cuts will cost taxing districts.