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242.2006 RESOLUTION AUTHORIZING SETTLEMENT OF PENDING ARTICLE 7 REAL PROPERTY ASSESSMENT CASE COMMENCED BY MICHAEL & HEATHER O’CONNOR RESOLUTION NO.: 242, 2006 INTRODUCED BY: Mr. Roger Boor WHO MOVED ITS ADOPTION SECONDED BY: Mr. John Strough WHEREAS, Michael and Heather O’Connor (“Petitioners”), previously commenced an Article 7 Real Property Assessment Review case against the Town of Queensbury in 2005 concerning the assessment on property located at 74 Fitzgerald Road, Queensbury (Tax Map No.: 289.14-1-30.1) and WHEREAS, the Town Assessor has recommended a settlement proposal to the Town Board and the Town Board has reviewed the cases with Town Counsel, and WHEREAS, the Board of the Queensbury Union Free School District is anticipated to approve the proposed settlement, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the settlement, which will result in a revised 2005 assessment as follows: Current Revised Applicable Tax Map No. Address Assessment Assessment Assessment Year 289.14-1-30.1 74 Fitzgerald Road $334,500 $304,500 2005 and BE IT FURTHER, RESOLVED, that the Town Board authorizes and directs payment of any and all refunds without interest to Petitioners within sixty (60) days from the date that a Demand for Refunds is served upon the Town, and BE IT FURTHER, RESOLVED, that in accordance with Section 727 of the New York State Real Property Tax Law, the assessment on the parcel (Tax Map # 289.14-1-30.1) shall remain at $304,500 for the next three tax years (2006/07, 2007/08 and 2008/09) unless the Town performs a Town-wide revaluation or some other exception provided for under Section 727 becomes applicable to the assessment rolls for those tax years, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Town Assessor, 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. st Duly adopted this 1 day of May, 2006, by the following vote: AYES: Mr. Sanford, Mr. Strough, Mr. Stec, Mr. Boor NOES: None ABSENT:Mr. Brewer