Three Bears: Butte

Three Bears Butte

The following article appeared in the Montana Standard on April 6, 2006.

Business seeks $400,000 property tax discount

By the Standard Staff - 04/06/2006

Three Bears Alaska is asking Butte-Silver Bow for a $400,000 discount on property taxes over 10 years.

The tax break would offset property taxes and the price on 7.2 acres between Mount Highland Drive and Olympic Way, company vice president Steve Mierop said. Property taxes in Montana are higher than they are in Alaska, he said. He didn’t elaborate on the price of Butte property.

Three Bears is proposing a 61,000-square-foot warehouse-style grocery store on Mount Highland Drive.

The tax break — which state law allows — would include a 50-percent reduction for the first five years, then a gradual increase in payment for Three Bears. In year 10, the company would start paying the full property tax bill.

Over the 10-year period, Three Bears would pay about $1 million in property taxes, county budget director Jeff Amerman said.

The council will hold a public hearing and vote on the tax breaks April 19.

Also, the company may seek public financing through local programs, Mierop said.

Although some council members showed concern for how Three Bears would impact other local stores, at least a few seemed receptive to approving the tax break.

“This is a tremendous economic benefit,” said Commissioner Charlie O’Leary.

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