A state panel has split the difference in a battle between the Aspen Skiing Co. and Pitkin County over the value of the five-star, five-diamond Little Nell hotel.
The Colorado Board of Assessment Appeals ruled last week that the county assessor’s office should adjust the value of The Little Nell to $74,430,000. That decision might be amended, according to a spokeswoman for the office. Skico representatives asked that the value be reduced by about $3 million —to roughly $71 million — to reflect the value of personal property.
The dispute has been dragging on for two years, since all property in Colorado was revalued by counties in May 2009. The assessor’s office valued the hotel at $81,726,900 for the 2009 tax year. The Skico objected to the Pitkin County Board of Equalization, claiming the property was worth $40 million. The Skico appealed its case to the next level when the equalization board didn’t rule in its favor.
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