Officials in Cambria County say some values of businesses are decreasing leading to adjustments being made.
The Cambria County Commissioners approved two tax adjustments in Richland Township this morning.
The values for both the Comfort Inn and Galiker’s production facility decreased in the past few years.
The county and businesses negotiated what they both consider a fair value of taxation to avoid going to court.
“The taxes are going to continue to go down on these big properties. They don’t appear to be worth what they were at one time. Interest rates affect the values of properties. The higher the interest rates go, the lower the value of the property goes.”
Other factors officials say are leading to loss of value across the county
Include loss of population and some sections of the county experiencing property deterioration.