In a court decision that may set a precedent forcing cities across California to refund overcharges of property taxes to hotels, the state's Supreme Court has let stand an appeal's court's ruling ordering San Francisco to provide a tax refund to a Blackstone unit for the Westin St. Francis hotel.
The top court denied a review of an August appellate court ruling involving the city's classification of "intangible assets," including in-room movie rentals and laundry service, as taxable property, the San Francisco Chronicle reported.
The decision to let the appeals court's decision stand requires San Francisco to reassess its valuation of the Westin and refund the overcharges, which an attorney representing the hotel indicated could amount to $1M per year since 2015, when Blackstone acquired the hotel, the report said.
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