ST. LOUIS—The Harrah’s casino in Maryland Heights saw its tax liability triple—and not for the first time.
St. Louis County Assessor Jake Zimmerman put the value of the Maryland Heights Casino at about $439 million, plus a $63 million real estate value, well above the standing value of $152, according to the St. Louis Post-Dispatch.
This is Zimmerman’s second go-around with Harrah’s. Last year he assessed the casino at $502, but Harrah’s appealed and got the number lowered. The recent sale of the casino to Penn National Gaming for $610 million helped affirm Zimmerman’s previous assessment.
As Zimmerman told the Post-Dispatch:
“The latest sales price tells us that the board’s decision to reduce the value was, in hindsight, probably not correct,” he said.