Quoted Text

ROTTERDAM
Assessment case favors corporate park
Owners will get $372,000 tax refund
BY JUSTIN MASON Gazette Reporter
Reach Gazette reporter Justin Mason at 395-3113 or jmason@dailygazette.net.

    Rotterdam and the Mohonasen Central School District will refund about $372,000 worth of taxes to the owners of the Rotterdam Corporate Park after settling a threeyear disagreement over part of the property’s assessment.
    Town and school officials agreed to value the 12-acre property off Duanesburg Road at $3.5 million between 2005 and 2007. As a result, Rotterdam Ventures LLC, a company owned by the Galesi Group, will collect about $60,000 from the town and $312,000 from Mohonasen in taxes they overpaid on the property.
    The settlement was accepted by the Town Board during the meeting Wednesday. District officials accepted the agreement earlier this month, said William Ryan Jr., an attorney representing Mohonasen.
    Originally, the district and town were contemplating an agreement that would set the property’s assessment at $4 million in 2005, $2.5 million in 2006 and $1.5 million in 2007. But Ryan said a professional appraisal of the property convinced the town and district that they could reach a better settlement.
    “After reviewing our appraisal on the property, we thought it was in the town’s and the school district’s best interest to resolve,” he said.
    Town Assessor Craig Surprise said ............................http://www.dailygazette.net/De.....amp;EntityId=Ar02402

Quoted Text

ROTTERDAM
Assessment case favors corporate park
Owners will get $372,000 tax refund
BY JUSTIN MASON Gazette Reporter
Reach Gazette reporter Justin Mason at 395-3113 or jmason@dailygazette.net.

    Rotterdam and the Mohonasen Central School District will refund about $372,000 worth of taxes to the owners of the Rotterdam Corporate Park after settling a threeyear disagreement over part of the property’s assessment.
    Town and school officials agreed to value the 12-acre property off Duanesburg Road at $3.5 million between 2005 and 2007. As a result, Rotterdam Ventures LLC, a company owned by the Galesi Group, will collect about $60,000 from the town and $312,000 from Mohonasen in taxes they overpaid on the property.
    The settlement was accepted by the Town Board during the meeting Wednesday. District officials accepted the agreement earlier this month, said William Ryan Jr., an attorney representing Mohonasen.
    Originally, the district and town were contemplating an agreement that would set the property’s assessment at $4 million in 2005, $2.5 million in 2006 and $1.5 million in 2007. But Ryan said a professional appraisal of the property convinced the town and district that they could reach a better settlement.