A dispute between Darden Restaurants Inc., and the Orange County Property Appaiser’s (OCPA) office has ended in favor of the county appraiser.
Darden Restaurants Inc., a Fortune 500 company in Orange County, Florida, and a parent company of such restaurant chains as Olive Garden and Longhorn Steakhouse, did not agree with the OCPA market value of its computers, furniture, leasehold improvements, and other equipment for the 2013 and 2014 tax years.
The company’s taxes were reduced by the Value Adjustment Board after Darden challenged the value. To recover the lost tax revenue, OCPA filed a lawsuit.
OCPA won the lawsuit on July 20, putting approximately $18.7 million in value back on the tax roll. The court also ruled that OCPA is entitled to recover its court costs incurred throughout the duration of the litigation.
“I would like to thank the hard work of all of my dedicated staff and our outside legal counsel,” Orange County appraiser Rick Singh said in a news release. “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 No. 1 goal since taking office in 2013."
The Tangible Personal Property Department at OCPA is responsible for valuing more than 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, OCPA said in the release.