ORLANDO, Fla., July 22, 2016 /PRNewswire/ -- Darden Restaurants Inc. did not agree with the Orange County Property Appraiser (OCPA) market value of their computers, furniture, leasehold improvements, and other equipment (also known as their Tangible Personal Property) for the 2013 and 2014 tax years. Their taxes were reduced by the Value Adjustment Board so, in order to recover the lost tax revenue for the citizens of Orange County, OCPA filed a lawsuit. OCPA won the lawsuit on July 20, 2016 putting approximately $18.7 million in value back on the tax roll; which means an additional $330,373.70 in revenue to the people of Orange County. The Court has also ruled that OCPA is entitled to recover its court costs incurred throughout the duration of the litigation.
Property Appraiser Rick Singh says, "I would like to thank the hard work of all of my dedicated staff and our outside legal counsel. I am pleased that the Court has upheld our values and recognizes the professionalism of our staff. Accuracy is of utmost importance in maintaining a fair and equitable tax roll. This has been my number one goal since taking office in 2013."
The Tangible Personal Property Department at OCPA is responsible for valuing over 60,000 companies and their computers, furniture, equipment, and leasehold improvements located in Orange County. Senior Appraisers and Auditors within the TPP Department worked diligently at valuing, defending, and recovering lost revenue in the Darden case.
Darden Restaurants Inc., is the only Fortune 500 company headquartered in Orange County, Florida. Its offices are located at 1000 Darden Center Drive in unincorporated Orange County (corner of John Young Parkway and Taft Vineland Road). Darden is the parent company of several restaurant chains including Olive Garden, Longhorn Steakhouse, Capital Grille, Bahama Breeze and Season's 52.
Laverne McGee, Director of Communications and External Affairs
SOURCE Orange County, FL Property Appraiser's Office