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A retirement community that charges a six figure entry fee isn't a charitable institution and must pay property taxes. That's according to the St. Louis County Board of Equalization which Tuesday rejected a request for tax-exempt status by the Aberdeen Heights Senior Living Center in Kirkwood.
Aberdeen officials had asked the board to waive their $1.2 million annual tax bill, a move that would have cost Kirkwood schools around 700-thousand dollars a year.
Aberdeen's attorneys had argued that the luxury complex qualifies as non-profit because it waves living expenses for residents who can no pay.
St. Louis County Assessor Jake Zimmerman say that doesn't matter because residents must first pay the steep entry fee in order to get the "free" lifetime care.
Presbyterian Manors of Mid-America, Aberdeen's parent company, is expected to appeal the ruling.