Deal to cut assessment on Home Depot site OK’d

TOWN OF ULSTER, N.Y. >> Town Board members have approved an agreement with Florida Samas Venture Inc. to reduce the assessment on property used by Home Depot from $6.91 million to $6.5 million through 2023.

The case was discussed during a meeting last week. Supervisor James Quigley said the figure will save money on legal fees for a case that had Florida Samas Venture seeking a reduction to $4.3 million for 2015 through 2018.

“If the town were to proceed to litigation, the general fund would incur expenses approaching $20,000 for appraisal fees and for lawyers to go to trial,” he said.

Under the agreement, there will be no change from the $6.91 million assessment for 2015-18, with 2019-22 assessments reduced by $405,000.

“The net affect to the town general fund is a reduction in revenues of less than $1,850,” Quigley said. “It would (have been) 10 years for the town to recover the litigation costs if we were to go to litigation and prevail and not reduce the value, so in the bottom line, I think this presents a compelling economic argument.”

Information from Ulster County said the Home Depot store, located at 100 Massa Drive, is a 115,834-square-foot building constructed in 1998 on 11.7 acres.

Under the agreement, tax refunds for 2019 tax bills include:

• Kingston school district taxes covering 201920, with the tax bill adjusted to $254,037.04 for an $11,739.59 reduction.

• Kingston Area Library District at $5.41 for a revised bill of $117.15.

• Ulster County at $1,610 for a revised bill of $34,852.42.

• Town of Ulster at $2,688.93 for a revised bill of $58,186.61.

• Ulster Water District at $332.61 for a revised bill of $7,197.37.

• Ulster Sewer District at $456.55 for a revised bill of $9,879.48.

• Ulster Library District at $89.35 for a revised bill of $1,933.57.

• Ulster Hose Fire District at $632.03 for a revised bill of $13,676.70.

• Albany Avenue Lighting District at $63,17 for a revised bill of $1,367.01.