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170.2009 RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7 REAL PROPERTY ASSESSMENT CASE COMMENCED BY DONALD AND MARGARET MERRIHEW RESOLUTION NO.: 170, 2009 INTRODUCED BY: Mr. Tim Brewer WHO MOVED ITS ADOPTION SECONDED BY: Mr. Anthony Metivier WHEREAS, Donald and Margaret Merrihew (the “Petitioners”) previously commenced an Article 7 Real Property Assessment Review case in 2007 against the Town of Queensbury concerning the assessment on certain property located at 2 Brookshire Terrace, Town of Queensbury – Tax Map ( No.:308.18-1-50the “Property”), and WHEREAS, the Town Assessor has reviewed the case with Town Counsel and the Assessor has recommended a settlement proposal to the Town Board, and WHEREAS, it is anticipated that the Queensbury Union Free School District will approve the proposed settlement, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the settlement of the pending Article 7 proceeding filed by Petitioners as follows: 1.The assessment on the Property on the 2007 assessment roll shall be set as follows: ASSESSMENT ROLL CURRENT ASSESSMENT REDUCED ASSESSMENT 2007 $600,000 $545,000 and BE IT FURTHER, RESOLVED, that the Assessment on the Property shall be $545,000 for the 2009 Assessment Roll and the Assessment shall remain at $545,000 for the 2010 and 2011 assessment rolls unless there is a Town-wide revaluation or the Property is further improved, or is destroyed or is subject to some other exception provided for under Real property Tax Law §727(2), and BE IT FURTHER, RESOLVED that the Town Board authorizes and directs that any over-payment of Town Special District taxes based upon the assessment prior to reduction for the year 2007 shall be refunded, with interest if ordered by the Court, within sixty (60) days after service upon the taxing authorities of the Order approving settlement with Notice of Entry, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town Assessor, Town Budget Officer 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. th Duly adopted this 4 day of May, 2009 by the following vote: AYES : Mr. Metivier, Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec NOES : None ABSENT: None 2