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A referee has denied Assurity Life Insurance Co.’s protest of the property value the county assessor put on its new headquarters in Lincoln’s Antelope Valley Project.
Assurity tried to get the county’s valuation of its new Lincoln headquarters increased, because it is less than half what the city projected to calculate its public subsidy.
Assurity was the largest company to heed the city’s call to build along the creek Lincoln has spent $246 million to revitalize. It consolidated three Lincoln locations into a new a five-story, 175,000-square-foot building near the centerpiece of Antelope Valley, Union Plaza.
The new corporate campus was projected to be worth $59 million when city officials calculated the amount of public subsidy it qualified for – a $7.2 million tax increment financing bond. But the county assessor valued the building at $27 million this year – prompting Assurity to protest the figure, arguing the property is worth $52.3 million.
But a referee recently ruled the county’s figure was accurate, and left the value unchanged.
