Warren County School District will lose some tax revenue next year.

The school board approved settling a property assessment appeal with Echo Warren Associates regarding the strip mall properties at Warren Commons.

The deal does not involve any other properties at Warren Commons.

The property in question had a listed assessment of $1,187,596 for 2021.

Echo appealed that assessment.

The board approved a settlement with Echo that would reduce the assessed value to $923,210 for 2021 tax purposes and to $841,870 for this year.

That two-year change reduces the taxable value of the property by almost 30 percent.

At the district’s current tax rate — about 55.34 mills — the district stands to lose $14,600 from the 2021 taxes and over $19,000 in 2022.

The board has held multiple executive sessions collectively with the Warren County commissioners over the past few months to discuss litigation.

According to the Warren County Assessment Office, all of the taxing bodies — the school district, the county, and the municipality, in this case Conewango Township — have to approve a settlement in order for it to take effect.