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Town, school settle Holcim assessment challenge
Sep 11, 2015 5:51 am
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(Photo from aggregateresearch.com.)[/caption]
Jim Planck is reporting in The Daily Mail the Catskill Town Board and the Catskill Board of Education have each approved the settlement of a tax assessment challenge by Holcim Cement. The agreement will have fiscal ramifications for both the town and the school district during the next budget cycles. The settlement drops the assessment on the Swiss-based global building materials and aggregates company's parcel at Smith's Landing to $2.3 million. The Catskill assessor's office originally valued the property at $5.6 million. At the reduced assessed value, the company's tax bill will decrease by nearly 60 percent. Catskill Town Supervisor Joseph Leggio acknowledged the impact the reductions will have on the town’s 2016 budget, stating the loss in revenue will be difficult to absorb, as it typically compromises either services or a municipality’s tax rate. Read the full story in The Daily Mail.
(Photo from aggregateresearch.com.)[/caption]Jim Planck is reporting in The Daily Mail the Catskill Town Board and the Catskill Board of Education have each approved the settlement of a tax assessment challenge by Holcim Cement. The agreement will have fiscal ramifications for both the town and the school district during the next budget cycles. The settlement drops the assessment on the Swiss-based global building materials and aggregates company's parcel at Smith's Landing to $2.3 million. The Catskill assessor's office originally valued the property at $5.6 million. At the reduced assessed value, the company's tax bill will decrease by nearly 60 percent. Catskill Town Supervisor Joseph Leggio acknowledged the impact the reductions will have on the town’s 2016 budget, stating the loss in revenue will be difficult to absorb, as it typically compromises either services or a municipality’s tax rate. Read the full story in The Daily Mail.