The Palmer Park Mall is getting a reassessment of its property and a refund from the township.
Solicitor Charles Bruno reported at the Palmer Township Board of Supervisors meeting Tuesday night that a change in the market value of the mall's property has impacted the township regarding the mall's assessment.
Therefore, the township must pay the mall $25,000.
Bruno said the mall, which is anchored by and and has 45 stores, will get a refund check and a new tax rate.
The board approved a motion authorizing Bruno to sign an agreement with the Northampton County Assessment Office regarding the mall assessment.
The move puts Palmer behind the eight-ball in terms of a line item regarding miscellaneous refunds, Township Manager Christopher Christman said.
Christman said the line item had $15,000 budgeted for various refunds and that, with the assessment decision, it's going to "look out of whack."
The mall's assessment only includes what's inside the mall and properties outside like Jack Williams auto repair and two banks.
Supervisor Chairman David Colver said he was told that this was the only assessment the township had to deal with, but he wondered whether assessments should be earmarked for the future.
"I've seen a couple come through here over the years," he said. "Assessed values are not what they once were. It's a fact of life."
Christman said he hoped to make up some of the assessment refund cost through real estate transfer taxes.
"A lot of homes are for sale in the township," Supervisor Bob Lammi said. "I wonder what that means?"