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Board says auditor will cut shopping‑center's 2024 valuation after successful appeal; discusses sale process for 306 Bank Street
Summary
The Saint Bridal CIC reported a successful appeal that will reduce the shopping‑center's 2024 assessed value from about $2.1 million to roughly $757,000, potentially producing a tax refund or credit; the board also discussed offering 306 Bank Street first to adjoining owners and asked the property review committee to recommend pricing.
The Saint Bridal Community Improvement Corporation told members on July 22 that it had won an appeal to lower the 2024 assessed value of the shopping center, a change the treasurer said will reduce the auditor's valuation from roughly $2.1 million to about $757,000.
"We did win our appeal for the 2024 valuation," the Treasurer said, adding the auditor will adjust the total to approximately $757,000. The Treasurer said the change could produce either a refund for taxes already paid for 2024 or a credit against 2025 taxes as the auditor and treasurer complete back‑office adjustments.
The board also discussed the possible sale of 306 Bank Street. The Chair said the newly interested buyer is for the left parcel of the lot; the lot is not currently buildable because it contains a cistern and the auditor currently lists its market value at $13,920. The Chair said the board previously decided to offer adjoining owners first on similar side‑lot sales and asked staff to check whether earlier notices included a purchase price or only solicited interest.
Staff and a committee member proposed the property review committee prepare a pricing recommendation to ensure a consistent approach for side‑lot offers; the Chair asked that committee meet before the next full board meeting and that staff notify the interested party and draft letters to the adjoining owner.
A formal vote on the property sale was not taken at the meeting. The board set its next meeting for Aug. 26 at 6 p.m. and adjourned by voice vote.
