Tuesday, August 2, 2011

What's Worth $1.5 Million?

Holcim has initiated a lawsuit against the City of Hudson over its property taxes. They are protesting the $4.5 million assessment of their property, claiming that their holdings in Hudson--the dock and South Bay--are only worth $1.5 million. To put that number--$1.5 million--in perspective, Gossips decided to spend some time with the tax rolls to identify other properties whose assessments, collectively, equal about $1.5 million. Here are some examples. 

    
The first five houses on the south side of the 200 block of Allen Street (201, 201½, 203, 205, 207).
Total assessed value: $1,416,228.


The first four houses on Willard Place (3, 4, 5, 6).
Total assessed value: $1,448,700.


The five houses on the south side of the 400 block of Union Street (439, 441, 445, 449, 453).
Total assessed value: $1,444,700.


The houses on the north side of Robinson Street.
Total assessed value: $1,364,200.


The houses on the south side of Robinson Street. 
Total assessed value: $1,670,000.

Given these "comparables," does $1.5 million seem like a reasonable assessment for the dock and South Bay?
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1 comment:

  1. Peter MeyerAugust 2, 2011 at 5:36 PM

    Bravo, Carole. This is exactly the kind insider-trading that goes on all the time in and around Hudson -- to the detriment of the average taxpayer. But it needs always to be noted that these corporate complaints of over-assessment come with a cost. The Holcim suit is also against the Hudson City School District and the County and, if successful, would result in the need for those agencies to reimburse Holcim, to the tune of tens of thousands of dollars; money that comes out of current budgets. The school district had to give First Niagara some $150k last year -- the salaries of two teachers! -- because of an assessment "error." The assessment situation in Hudson is a joke -- an expensive one. And the common Council has yet to take it seriously.

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