Date: Fri 04-Jul-1997

Publication: Bee

Author: ANDYG

Quick Words:

lawsuit-tax-assessments-Fraser

Full Text:

Town Sued Over Tax Assessment

An investment firm is suing the town over its real estate tax assessment,

seeking a reduction of the assessment plus money damages.

In a lawsuit filed June 25 in Danbury Superior Court, Golden Oak Investments,

Ltd, states the tax assessor has improperly determined the true and actual

value of its property at 173 South Main Street and has overvalued and

overassessed it.

The address is the site of Gordon Fraser Gift Shop and Gordon Fraser, Inc.

The suit states the town has set the assessed value of the property at

$1,566,550. Tax-assessed values are set 70 percent of a property's estimated

full fair market value. A $1,566,550 tax-assessed value would place the

estimated full fair market value at $2,237,929.

The investment firm lodged an appeal with the town's Board of Assessment

Appeals but the property's value wasn't reduced, according to the suit.

Through the suit, the investment firm seeks a reduction of the property's

valuation; a refund of taxes paid on the property; interest on the alleged tax

overpayment, legal costs, and other relief.

The tax refund being sought by the plaintiff exceeds $15,000.

The investment firm is represented by attorney Gregory F. Servodidio of

Pullman and Comley, LLC, of Hartford.

The town has a July 25 date to answer allegations made in the suit.