"Steel tax ruling near" is the headline to this story today in the Gary Post Tribune. Some quotes:
The is much more to the story; but remember, the Trib does not archive its stories, so read it today.
CROWN POINT — Supporters of a $53 million settlement with U.S. Steel have some cause for hope after Tax Court Judge Thomas Fisher agreed to rule quickly.The judge said he would rule within 30 days whether Lake County has the authority to settle with the steel giant over the objection of Calumet Township Assessor Booker Blumenberg.
Fisher came from Indianapolis to hear the arguments after Blumenberg filed a motion asking the judge to set aside the agreement announced in May.
U.S. Steel and the county have agreed on a dollar figure for dropping a series of lawsuits on the assessment of its Gary Works.
Blumenberg’s attempts to stop the settlement have picked up support from homeowners, who are upset over rising tax bills and believe the steel mills received special treatment.
The Munster Times also has a report, headlined "Township assessor hopes to melt steel tax settlement: Tax court judge to decide in 30 days whether to oust Blumenberg from pact." Some quotes from the beginning of the story:
CROWN POINT -- Calumet Township Assessor Booker Blumenberg Jr., stood tall, but outnumbered Thursday, against a compromise that saves U.S. Steel Gary Works tens of millions of dollars in overdue property taxes.Posted by Marcia Oddi at July 2, 2004 02:35 PMIndiana Tax Court Judge Thomas Fisher heard arguments for and against the disputed deal from lawyers for the township as well as Lake County, the state and U.S. Steel Corp. who favor a deal they struck to settle a 3-year-old tax dispute. Fisher questioned whether he has the power to sweep aside Blumenberg and his objections. He said he will rule on the question within 30 days.
Under the settlement, the steel giant agrees to pay $44 million in back taxes, donate 200 acres of lakefront land to the city of Gary and invest $150 million in its Gary Works plant over the next four years. The state agrees to pay Lake County $8.9 million in property tax replacement credits. In return, the state and county would forgive U.S. Steel from having to pay the balance of their tax bills between 2001 and 2003.