PORT ANGELES — A settlement in a lawsuit could shift up to $1 million in taxes to homeowners and businesses in the Port Angeles School District.
The settlement is what was behind the surprise announcement this week of a decrease in the overall assessed valuation of property within the School District.
The result will mean slightly higher property taxes for residents and businesses this year.
The unexpected news also means that the replacement school levy for 2004 and 2005 — now being voted on through Feb. 4 — could exceed the $2.88 per $1,000 assessed valuation listed on the ballot.
The settlement resolves a lawsuit in which Daishowa America Co. Ltd. sued Clallam County, saying that its Ediz Hook mill had been overassessed.
Under the terms of the agreement filed in Jefferson County Superior Court, Clallam County would credit Daishowa $500,000 toward its property taxes over the two-year period of 2003 and 2004.
The credit covers disputed taxes for 1999 and 2000.
Similar terms are being worked out for the tax years 2001 and 2002, court records show.
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