Court: Atlantic City overcharged Borgata casino in taxes

Atlantic City’s Borgata casino will receive about $63 million after a state appeals panel concluded the city had overcharged it on property taxes.

Monday’s ruling affirms a $48 million tax refund, and about $15 million in interest for the tax years 2009 and 2010. It is separate from an $88 million tax settlement the casino reached with the city last year for other tax years.

Atlantic City has faced a wave of tax appeals as its casinos successfully argue they are not worth what they once were, when the gambling market was doing better.

A bill that would let Atlantic City’s casinos make payments in lieu of taxes for 15 years — and not be able to appeal their taxes — awaits a decision by Gov. Chris Christie.

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