Officials in Luzerne County are to collect over $223,000 more in annual taxes from the Mohegan Sun Pocono after a new appraisal of the casino valued the property at more than $150 million.
Owned by the Mohegan Tribal Gaming Authority, which is also responsible for the giant Mohegan Sun resort casino in eastern Connecticut, the seven-story Mohegan Sun Pocono has been making payments in lieu of taxes under a 2007 court-approved assessment that expires at the end of the year. The sum for 2016 amounted to $653,360, which was based on an appraised value for the northeastern Pennsylvania casino of $113,714,860.
However, a new appraisal carried out by Media-based industrial and commercial valuations firm Coyle, Lynch And Company put the value of the Mohegan Sun Pocono at $152,529,300, which means that the annual real estate tax bill is to rise to $876,372.
Located on 400 acres of land near the city of Wilkes-Barre, the 238-room Mohegan Sun Pocono features a 20,000 sq ft convention center alongside an 82,000 sq ft gaming floor complete with 2,300 slots and 90 table games.
According to a statement from Luzerne County Manager David Pedri, his office is in the process of mailing a change-of-assessment notice to Mohegan Sun Pocono, which will have the right to challenge the new valuation. He explained that the latest assessment is based on the value of land and recent improvements to the casino and adjacent hotel.