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ASSESSMENTS\\Settle Lowes - 11-4-19
RESOLUTION AUTHORIZING SETTLEMENT OF PROPERTY
ASSESSMENT CASES FILED BY LOWE’S HOME CENTERS, INC.
RESOLUTION NO.: _____________________________________________________, 2019
INTRODUCED BY: _____________________________________________________
WHO MOVED ITS ADOPTION
SECONDED BY: ______________________________________________________
WHEREAS, Lowe’s Home Centers Inc. (“Petitioner”), filed Article 7 Real Property
Assessment Review cases against the Town of Queensbury challenging the 2017 through 2019
assessments on real property located at 251 Quaker Road, Queensbury, New York (Tax Map
Parcel # 296.20-1-50.1), 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, we understand that the Glens Falls City School District’s Board of
Education has approved the proposed settlement terms,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves the proposed settlement of
the tax assessment cases filed by Lowe’s Home Centers Inc. as follows:
1) The 2017 assessment challenge shall be discontinued without reduction of the
assessment or refunds;
2) The 2018 assessment shall be reduced to $9,100,000 with refunds to be paid;
3) The assessed value for Tax Map Parcel #296.20-1-50.1 shall be fixed at $8,500,000
for the 2019, 2020 and 2021 Assessment Rolls unless the property is further improved
or the assessment is subject to some other exception under Real Property Tax Law
Section 727;
and
BE IT FURTHER,
RESOLVED, that approval of this settlement agreement is contingent upon Town Counsel’s
review and approval of the Consent Judgment, 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.
th
Duly adopted this 4 day of November, 2019, by the following vote:
AYES :
NOES :
ABSENT: