4.10 4.10
ASSESSMENTS\Settle LG Campsites and Key Lock—5-21-18
RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY
ASSESSMENT CASES FILED BY
LAKE GEORGE CAMPSITES LLC AND KEY LOCK LLC
RESOLUTION NO.: , 2018
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, Lake George Campsites LLC and Key Lock LLC/Key Lock Prime Storage
LLC ("Petitioners") filed Article 7 Real Property Assessment Review cases against the Town
challenging the 2011 through 2017 assessments on real property located at 1053 State Route 9,
Queensbury, New York (Tax Map Parcel 4295.12-1-6) and 25 Triangle Park, Queensbury, New
York(Tax Map Parcel# 303.15-1-2), and
WHEREAS, it appears to be in the best interests of the Town to avoid the significant
costs that would result if the litigation continues and goes to trial, and
WHEREAS, the Town Assessor now recommends proposed settlement terms which have
been negotiated with Petitioner, and
WHEREAS, it is anticipated that the Queensbury Union Free School District will
approve the proposed settlement terms,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board hereby approves the proposed settlement of the tax
assessment cases filed by Lake George Campsites LLC and Key Lock LLC/Key Lock Prime
Storage LLC for assessments years 2011 through 2017 as follows:
1) All proceedings related to the Key Lock property located at 25 Triangle Park (Tax
Map Parcel 4303.15-1-2) shall be discontinued without any reduction to the assessed
values; and
2) The assessments for the Lake George Campsites property located at 1053 State Route
9, Queensbury, New York (Tax Map Parcel 4295.12-1-6) shall be reduced as
follows:
Assessment Assessed Value Reduced Assessed Reduction
Year Value Amount
2011 $1,037,400 $812,000 ($225,400)
2012 $1,037,400 $874,000 ($163,400)
2013 $1,037,400 $783,100 ($254,300)
2014 $1,037,400 $711,350 ($326,050)
2015 $1,196,200 $995,000 ($201,200)
2016 $1,196,200 $995,000 ($201,200)
2017 $1,196,200 $995,000 ($201,200)
3) Refunds shall be paid based on the assessment reductions; and
4) Section 727 of the Real Property Tax Law will apply, fixing the assessments for Tax
Map Parcel 4295.12-1-6 at $995,000 for the 2018, 2019 and 2020 Assessment Rolls
unless the property is further improved or the assessment is subject to some other
exception under Section 727; and
BE IT FURTHER,
RESOLVED, that unless otherwise ordered by the Court, refunds based upon the
assessment reductions shall be paid without interest provided they are paid within ninety (90)
days after Petitioners serve a copy of the filed Court Order approving the settlement, with Notice
of Entry, on the Town together with a Demand for Payment, and
BE IT FURTHER,
RESOLVED, that approval of this Settlement Agreement is contingent upon Town
Counsel's review and approval of the Stipulation of Settlement and Order, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
Town Assessor, Town Clerk and/or Town Counsel to execute settlement documents and take any
additional steps necessary to effectuate the proposed settlement in accordance with the terms of this
Resolution.
Duly adopted this 21St day of May, 2018, by the following vote:
AYES
NOES
ABSENT: