USA: Agreement reached in Hormel Foods Corporation property tax assessment
Hormel Foods Corporation (NYSE: HRL) and the Mower County Commissioners have reached an agreement that will change the assessed market value of the parcels of land making up the Austin plant complex owned by the corporation. The agreement outlines a four-year transition schedule that reduces the valuation of the combined parcels in excess of $36 million to $16 million by the year 2003.
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