KINGSFORD — Kingsford Broach & Tool Inc. will see its property tax valuation reduced under an agreement approved by Kingsford City Council.

City Manager Mike Stelmaszek said Kingsford Broach sought the reduction by hiring an appraiser specializing in assessments to bring to the Michigan Tax Tribunal for appeal.

The business was seeking to go down from about $718,000 in taxable value assessed in 2020 and 2021 to $500,000. Stelmaszek and city assessor Kyle Mulka recommended offering $600,000 to settle the dispute, which is $118,000 less than assessed.

The city will give Kingsford Broach refunds of $3,090 for 2020 and $4,173 for 2021.

To counter this, Kingsford would need to request an extension, procure an appraiser and hire an attorney who specializes in tax cases, all of which would cost the city more, according to Mulka.

“I’m not real happy about this. It could start a domino effect,” council member Mick Flaminio said.

Mayor Joe Groeneveld agreed but conceded “it was not worth it right now.”

“This decision was made with concern that the city’s current assessment was proper, but in this specific case our best option was to settle outside of a tribunal hearing process,” Stelmaszek told The Daily News. “It is the city’s intent to highly scrutinize any future appeals and defend the integrity of our assessment roll.”

In other business Monday, the council —

— Modified Ordinance 290 to allow storage containers within a B2 general business district, provided it abuts an industrial area, is behind a 6-foot fence and is visible through the fence at not less than 50%. This was added to address concerns about visibility through a chain link fence.

— Appointed John Jessen, city treasurer Holly Palmer and council member Dennis Baldinelli as directors of the centennial committee. The city will celebrate its centennial in 2023.

— Will ask the Civic Service Commission to start an entry-level employee procedure list. The city attempted this in February without success. The city could see up to four employees retire in the next two years.

— Learned Jeff DeMuri, public works superintendent, was in the process of gathering quotes from multiple contractors for line painting, washing water tanks and a sewer line repair on Hamilton Avenue.

— Reported that 25 noxious weed notices were mailed out and only three did not comply by deadline. Summer employees cut lawns at those residences and the property owners will be billed.