“Could a $10 sale mean no more taxes for Noah’s Ark theme park?”
The bilking of gullible Kentucky taxpayers continues.
As per the article: “On June 29, Williamstown City Attorney Jeffrey Shipp sent a letter to the Biblical amusement park Ark Encounter, rejecting their request to be exempted from a new safety tax because they are a religious organization.
Shipp said it was clear that Ark Encounter is a for-profit entity, which is how it has been listed with the Secretary of State’s office since 2011.
But the day before, Ark Encounter LLC sold its main parcel of land — the one with the life-size Noah’s Ark — for $10 to their non-profit affiliate, Crosswater Canyon. Although the property is worth $48 million according to the Grant County Property Valuation Administrator, the deed says its value is only $18.5 million.
That’s the latest salvo in an escalating argument between local officials and Ark Encounter, but some are worried Ark Encounter’s maneuver is a precursor to declaring itself exempt from all taxes, including property taxes that help fund Grant County schools."
Here’s the link:
http://www.kentucky.com/news/state/article161782438.html