General News: Lower Assessments Approved in Village
December 18, 2007
Eleven property owners in Cornwall-on-Hudson won a reduction in their assessments four weeks after presenting their cases to a review board.
At its Monday session, the village board of trustees approved the recommendations of the board of assessment review, which met last month to hear property owners present their arguments about why their assessments were too high.
A total of 16 property owners grieved their assessments and, of those, five remained unchanged. Adjustments ranged from a drop of $159,750 for one property to $5,400 for another. The total drop in assessed value for the village is just over $500,000.
The changes in the assessments will only affect the property taxes paid to the village. The town of Cornwall will still collect taxes based on the prior assessment unless it agrees to lower that amount through its own grievance procedure.
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