The dust's long settled from Austin's first Formula One U-S Grand Prix, but Circuit of The Americas says it's run into a roadblock with Travis County tax assessors.
Track owners disagree with the county's $290 million property value and have filed suit.
"This is our first assessment, and we need to make sure the baseline established is fair and accurate,” a COTA spokesperson said in a statement.
The assessment includes the track, grandstands and hundreds of acres of parking lots.
Circuit of the Americas says its property is not worth $290 million because when you take a look at the other properties around it and compare to other tracks across the country, it should be worth a lot less.
Donald Hayward is one of COTA's neighbors. His home's perched above Turn 10, offering unobstructed views of the Austin skyline.
"I'm not sure how far you can see, but it's got to be at least 25 or 30 miles," Hayward said.
So far, he says his property value has held steady—at least for now.
"The more this race track takes hold, eventually my property taxes probably will go up,” Hayward said. “That's what I'm thinking."
Travis County tax assessors brought in an outside firm to help determine the track's value.
If the court decides to keep Circuit of The Americas at its current tax assessment, COTA will owe nearly $8 million dollars in property taxes.
The annual Formula 1 race nets COTA and race promoters $30 million a year in city, county and state tax incentives.
COTA says it still plans to give the local Del Valle school district the money it budgeted for this school year so local students aren't impacted.