James City County Issues $2.9 Million Refund to Busch Gardens to Settle Appeal
New property reclassification expected to generate $2.6 Million in additional revenue going forward
James City County has issued a net payment of approximately $2.9 million to Busch Gardens, a move intended to address a multi-year tax classification dispute. The payment follows a 2024 ruling by the State Tax Commissioner requiring the County to reclassify theme park rides and attractions from personal property to real estate.
The 2.9 million check, sent in December, was the result of a complex reconciliation. The County calculated a total refund of 15.1 million in personal property taxes and interest, which was then offset by 12.4 million in newly assessed real estate back taxes.
Stevens emphasized that while the taxpayer may still have grievances or questions, the County considers the accounting complete. He stated, “We believe this settles it for us... It’s the action we have taken... and we just thought it was important to share that information”
Looking ahead, the reclassification is expected to be a net positive for the public’s finances. By assessing attractions at 100% of their fair market value as real estate—rather than the previous depreciated personal property rate—Finance Director Sharon McCarthy projects the County will see an annual tax revenue increase of approximately 2.6 million.
The writer used AI tools and these sources:
Agendas Packet - James City County Board of Supervisors Business Meeting - January 27, 2026
Video - James City County Board of Supervisors Business Meeting – January 27, 2026
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