49ers to get $36 million refund in Levi's Stadium property tax appeal

SANTA CLARA, Calif. (KGO) -- Their season may be over, but the San Francisco 49ers racked up a major victory that would grant them a refund of $36 million dollars in a property tax assessment appeal.

Those who will have to cough up the money are public agencies within Santa Clara County, including the school district.

The 49ers organization and the city of Santa Clara jointly own Levi's Stadium, but over the last few years, there's been a dispute as to the assessed property value.

Recently, the Santa Clara County Assessment Appeals Board sided with the 49ers, drastically slashing the stadium's assessed value-- cutting property taxes in half.

"We think the Assessment Appeals Board was wrong, we think their conclusion is flawed," said Santa Clara County Assessor Larry Stone.

Stone is disappointed with the ruling. On Wednesday, his office released a report, estimating the impact that the loss of $36 million in revenue would have on public offices.

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"To say that they only should be assessed and therefore taxed during the football season is really erroneous because there are a lot of other things that happen there like concerts and so forth that the Niners control that we think should be part of the assessment," added Stone.

The agency slapped with the biggest hit: The Santa Clara Unified School District.

The district will have to refund the 49ers $13 million plus lose out on $2.5 million in tax revenue each year.

"We'd rather have that $13 million this year, we'd rather have the $2 and a half million ongoing so we can build on the great things that we're already doing here in the district. Now this will cause us to pause and reevaluate our priorities," said Eric Dill, chief business official with the Santa Clara Unified School District.

In a written statement to ABC7, the 49ers say they accept the decision.

"Our focus, as always, will be on ensuring that Levi's Stadium continues to be a premier sports and entertainment venue for the region," said Rahul Chandhok with the 49ers organization.

The ruling is not yet final and the county has the option to appeal.

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