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370.2014 Article 7 Brothers, Young, & Others RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7 REAL PROPERTY ASSESSMENT CASES COMMENCED BY BROTHERS, YOUNG AND OTHERS RESOLUTION NO.: 370,2014 INTRODUCED BY: Mr.William VanNess WHO MOVED ITS ADOPTION SECONDED BY: Mr. Doug Irish WHEREAS, John Brothers, Mary Beth Young, Richard Young and owners of 65 other parcels of residential property previously joined together and commenced joint Article 7 Real Property Assessment Review cases beginning in 2005 against the Town of Queensbury concerning certain parcels of shoreline property located on Lake George and Glen Lake, with each parcel developed with a single-family home and other improvements, and WHEREAS, most of the property owners involved participated in the cases for only a few years, and the Assessor reached out-of-Court settlements with most of them during the intervening years, and WHEREAS, all of the cases have all been resolved or abandoned for all years except for the challenges on the three parcels owned by John Brothers (Tax Map #239.16-1-26), Mary Beth Young (Tax map#227.13-2-14), and Richard Young(Tax Map#239.12-2-14), and WHEREAS, the Assessor has reviewed these remaining cases with Town Counsel and the Assessor has recommended a settlement proposal to the Town Board, and WHEREAS, the Lake George Central School District has approved the proposed settlement terms, NOW, THEREFORE, BE IT RESOLVED, that the Town of Queensbury Town Board hereby approves the settlement of the pending Article 7 cases against the Town brought by John Brothers, Mary Beth Young and Richard Young for 2005 through and including 2014 in accordance with the following: 1) Assessments on the parcels shall be revised as shown in accompanying Table A. 2) Instead of the approximately $51,076 in total tax refunds that would be due based upon the assessment reductions shown in Table A, a total refund of$40,538.38 shall be paid to the one law firm representing Mr. Brothers and the Youngs for distribution as agreed between and among themselves. The total of refunds to be paid by or on behalf of the Town and Special Districts shall not exceed $5,250.00, and shall be based upon the proportions of tax rates for the Town, County, School District and Special Districts for the years at issue. No other refunds shall be paid by the Town. 3) For the 2014, 2015 and 2016 Assessment Rolls, the assessment on the parcel owned by Mary Beth Young, Tax Map #227.13-2-14, shall be based upon a Full Market Value of$600,000 (Six Hundred Thousand Dollars). 4) For the 2014, 2015 and 2016 Assessment Rolls, the assessment on the parcel owned by Richard Young, Tax Map #239.12-2-14, shall be based upon a Full Market Value of $925,000 (Nine Hundred Twenty-Five Thousand Dollars). 5) For the 2014, 2015, 2016, 2017 and 2018 Assessment Rolls, the assessment on the parcel owned by John Brothers, Tax Map # 239.16-1-26, shall be based upon a Full Market Value of $1,295,000 (One Million Two Hundred Ninety-Five Thousand Dollars). 6) Each of the Full Market Values specified above shall apply even after the upcoming Town-wide revaluation but shall be subject to adjustment if the house or other improvements on the property are destroyed, damaged, renovated or replaced. 7) All pending cases on all parcels shall be discontinued by the property owners, and BE IT FURTHER, RESOLVED, the Town Board authorizes and directs payment of a refund as set forth above, and such refund shall be paid without interest, provided it is issued within sixty (60) days after Petitioner serves a copy of the filed Court Order approving the settlement, with Notice of Entry, on the Warren County Treasurer, and BE IT FURTHER, RESOLVED, that the Town Board authorizes and directs the Town Supervisor, Town Assessor, Town Budget Officer and/or Town Counsel to execute settlement documents on behalf of the Town and take any additional steps necessary to effectuate the proposed settlement in accordance with the terms of this Resolution. Duly adopted this 20'h day of October, 2014, by the following vote: AYES: Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough NOES: None ABSENT: None TABLE A TAX MAP NO.: 227.13-2-14 (YOUNG-9 FIELDING LANE) ASSESSMENT CURRENT REVISED ROLL YEAR ASSESSMENT ASSESSMENT REDUCTION 2005 700,000 550,000 150,000 2006 700,000 445,000 255,000 2007 700,000 454,250 245,750 2008 700,000 474,500 225,500 2009 700,000 532,000 168,000 2010 700,000 513,000 187,000 2011 525,000 NO CHANGE 0 2012 525,000 500,000 25,000 2013 525,000 492,000 33,000 2014 525,000 492,000 33,000 TAX MAP NO.: 239.12-2-14 (YOUNG-47 ASSEMBLY POINT ROAD) ASSESSMENT CURRENT REVISED ROLL YEAR ASSESSMENT ASSESSMENT REDUCTION 2005 905,800 800,000 105,800 2006 905,800 712,000 193,800 2007 905,800 711,000 194,800 2008 905,800 730,000 175,800 2009 905,800 798,000 107,800 2010 905,800 722,000 183,800 2011 806,700 800,000 6,700 2012 806,700 700,000 106,700 2013 806,700 758,500 48,200 2014 806,700 758,500 48,200 TAX MAP NO.: 239.16-1-26 (BROTHERS- 12 TALL TIMBERS ROAD) ASSESSMENT CURRENT REVISED ROLL YEAR ASSESSMENT ASSESSMENT REDUCTION 2005 1,349,200 1,300,000 49,200 2006 1,349,200 1,112,500 236,700 2007 1,349,200 1,066,500 282,700 2008 1,349,200 1,241,000 108,200 2009 1,349,200 1,140,000 209,200 2010 1,349,200 1,064,000 285,200 2011 1,200,000 1,120,000 80,000 2012 1,160,000 1,040,000 120,000 2013 1,160,000 984,000 176,000 2014 1,160,000 1,061,900 98,100