Date: Fri 04-Jul-1997

Publication: Bee

Author: ANDYG

Quick Words:

Newtown-Savings-Bank-tax-suit

Full Text:

Savings Bank Sues Town Over Tax Assessment

Newtown Savings Bank is suing the town in a move to get a reduction in the

property tax assessment for real estate it owns at 23 Commerce Road.

The address is the site of Newtown Health and Fitness.

In a lawsuit filed June 20 in Danbury Superior Court, the bank states the town

assessor placed the estimated fair market value of the property at $1,904,457,

resulting in an assessment valuation of $1,333,130.

"Taxes have been laid on this property which were manifestly excessive and

could not have been arrived at except by disregarding the statutes for

determining the valuation of such property," the suit states.

The bank appealed the assessment to the town's Board of Assessment Appeals,

but the board didn't make a big enough reduction in the tax assessment,

according to the lawsuit.

On April 29, the board reduced the tax assessment to $1,153,420, according to

documents filed with the lawsuit.

Through the lawsuit, the bank seeks a reduction in its tax assessment on 23

Commerce Road, a reimbursement for any overpayment of taxes together with

interest and costs, and other relief.

The amount being sought by the bank exceeds $15,000.

The bank is represented by attorney Lisa Kasden Kent of Goldstein and Peck,

PC, of Bridgeport.

The town has a July 15 answer date for the allegations made in the lawsuit.