WEST PALM BEACH – Palm Beach County Tax Collector Anne M. Gannon has announced her office received a settlement of $710,681.93 from Winn Dixie Corporation for unpaid tangible personal property taxes.
In a settlement that was reached on October 14, 2010, Winn Dixie, which operated 87 stores in Palm Beach County at the time they filed for Chapter 11 re-organization, agreed to pay 80 percent of the value of the tangible property and 7 percent interest. In July of 2010 Winn Dixie announced it would close 30 stores, including 9 in Palm Beach County.
“My office received payment for the full amount of the settlement on October 29, 2010,” reported Gannon. “This is good news for the citizens of Palm Beach County and I want to thank my staff for their diligent efforts in working out the settlement.”
Tangible personal property, Gannon said, includes all assets other than real estate that physically exist. Assets such as stock certificates and franchises represent only value and are therefore intangible property. However, any item that is being used for business or income producing purposes, such as furniture, fixtures, tools, machine vehicles, supplies, leased equipment and any other equipment used in a business or to earn income qualify as tangible personal property.