Walmart wants the assessed value of their Superior store location cut in half. A lawsuit recently filed is the fifth request in five years that the Arkansas-based company has tried to change the number that determines how much property tax they'll pay to the city.

The most-recent filing shows that Walmart wants the value of the store located on Tower Avenue in Superior dropped from $12.1 million to $7.1 million; if successful, the company would have the value the city uses almost cut in half.

This current lawsuit - as well as the four previous - hinge on the so-called "dark store theory".  According to the details shared in an article in the Superior Telegram [paywall], the "dark store theory" is one that major retailers use to lower their net property taxes paid at the local level:

"The dark store theory is a tax avoidance strategy used by national big-box retail chains to argue their thriving businesses must be assessed for tax purposes as though they were a vacant property."

In other words, the retailers are arguing that the assessed property value should have nothing to do with the income (profit or loss) generated inside the store; the value should be purely based on the inherent value of the land and structure.

Detractors claim that any inherent value of a parcel of commercial property is tied to that revenue stream.

This most-recent lawsuit that Walmart filed against the City of Superior isn't the first of its' kind; Walmart successfully lowered it's assessed value of the Superior location for three years:  2017, 2018, and 2019 - with an agreement reached in 2020.  The terms of that lawsuit saw the "store's assessed value [dropped] by about $750,000 for three years".  That reduction brough the assessed value of the Superior Walmart location from "just over $13 million to $12.1 million".

While the company was successful in the past, this most-recent lawsuit seeks an even larger reduction - by almost half.

According to the filings of the August 5 application, the City of Superior now has 20 days to respond.

Food Brands I Won't Let Walmart Curbside Pick Up Substitute

Northland Vegetables That Can Well

LOOK: States With the Most New Small Businesses Per Capita

To find the top 20 states with the most new small businesses per capita, Simply Business analyzed the Census Bureau’s Business Formation Statistics from August 2020 to July 2021.

More From KOOL 101.7