By Cindy Barks | The Daily Courier
A long-running legal dispute between the City of Prescott and the Town of Chino Valley over a water-transportation tax appears to be settled.
This past week, the councils in both communities approved a settlement agreement and mutual release regarding Chino Valley’s tax code.
In settling the dispute, Prescott agreed to pay Chino $220,000 – a negotiated amount that covers the city’s unpaid amount over a two-year period. Although that is less than half of the $481,371 that Chino Valley originally sought back in 2008, the city memo noted that the city has resumed paying the tax and would continue to pay it in the future.
The city estimates the annual tax amount at about $100,000 per year.
