Bismarck, North Dakota – The proprietor of the Bismarck Hotel and Conference Center requested a tax exemption from the city, but the officials of Bismarck rejected his request.
Weishan Jin, a new owner, purchased the hotel, formerly known as the Ramkota, last year.
He requested that the property’s appraised value to be lowered from $11.5 million to slightly under $9 million.
The hotel now has a taxable balance of about $580,000.
When the property was assessed on February 1st of last year—before the hotel sale—the municipal assessor’s office advised commissioners to reject the proposal.
“The main reason we’re recommending no is because the sale, his recent purchase of the property, is not something we could’ve considered when setting the value for 2022,” Bismarck City Assessor, Allison Jenson said.
Jin acquired the hotel last year from Sioux Falls-based Regency Midwest Investments. The hotel opened in 1974.
