William Kemble is reporting in the Daily Freeman the Catskill Town Board has agreed to settle a tax lawsuit with First Niagara Bank over the assessed value of 341 Main St. The building, formerly owned by First Niagara, is now owned by the Bank of Greene County. The agreement will lower the building assessment from more than $700,000 to just under $271,000. The board agreed to the reduction at a meeting, Tues., Mar. 4. The bank also agreed, as part of the settlement, to drop challenges to the assessed value of parcels it owns at 335 Main St. and a parking lot on Bridge Street. The bank will receive approximately $52,000 in school, village, town and county taxes, covering 2011 through 2013. Under the agreement, no interest will be charged for those refunds. Read the full story in the Daily Freeman.