TOWN OF NEWBURGH ASSESSOR COMMENTS ON POWELTON CLUB SETTLEMENT
Acting as Assessor for the Town of Newburgh one of my responsibilities is to set fair and equitable assessments on all properties. Assessors by law cannot be influenced by any outside sources or pressures to change a proper assessment.
I have settled many cases over the years. My decisions are based on true property values. The wealth or income of those occupying the property play no part in any assessor’s decision.
The Powelton Club has received a tax assessment reduction that I recommended to the Town of Newburgh Town Board.
This settlement was approved on Jan 20, 2015.
This reduction was based on the following facts.
* The Powelton Club initiated an assessment lawsuit in May 2011
* The Powelton Club had been assessed at a market price of
5 million dollars for many years;
* When the Powelton Club started legal action to have their
assessment reduced, an independent appraiser was hired.
The result of this appraisal would be used in pretrial
*The appraiser hired by the town as well as the appraisal
produced by the Powelton Club both presented a market
value of 2.9 Million Dollars
Placing two appraisals of 2.9 million dollars in front of any judge would guarantee a reduction to 2.9 million dollars.
In my experience, in no way would any judge decide on an amount higher than $ 2.9 million dollars.
The judge would also rule to return all back years to the property owner.
In addition litigation fees could reach upward of $ 50,000.00
Our Settlement was for 3.7 Million dollars for all past four years
($ 800,000 over the appraised value) and 3.1 million going forward
($ 200,000 over the appraised value).
Because of this settlement the result is the following:
Charge back of four years for the School District $ 1,896.000.
Going forward the School District will receive close to one million
dollars in revenue per year.
For the Town the charge back will be $ 33,000.00.
Going forward the Town the will receive $ 12,000.00 per year
going forward.
John Venezia
Acting Assessor
Town of Newburgh
