Kansas City, Mo. ? The company that developed Kansas City’s new downtown entertainment district finished off its first full year of operations in the city with a lawsuit over tax assessments.

The lawsuit, filed this week in Jackson County Circuit Court, claims the Power & Light District was overvalued for property tax purposes by $9 million. It alleges the county assessor gave late notice to Kansas City Live LLC — the local subsidiary that Cordish set up — of the assessed valuation increase for 2008.

The Baltimore-based Cordish is challenging the values attached to the properties and businesses in the entertainment district.

The county assessor places the taxable value of the district’s bars, restaurants, shops and newly renovated Midland by AMC theater at $21.3 million.

But Kansas City Live estimates their worth at $12.3 million.

The tax challenge is the latest conflict between Cordish and the local community since the downtown redevelopment project’s operations got off to an overdue start last March.

In April, Cordish threatened to sue over Kansas City’s effort to expand festival liquor licenses to other areas.