Williston BCA hears GlobalFoundries appeal; parties agree to $17M interim valuation and request state appraisal

The Williston Board of Civil Authority on Monday heard an appeal from GlobalFoundries US 2 LLC challenging the 2025 assessment for its 326 IBM Road campus and agreed to an interim adjusted valuation of $17,000,000 while the parties request a third-party state appraisal.

Assistant assessor Mikaela Martin told the board the town's 2025 assessment for the property is $24,646,960 and that the parcel covers roughly 440.6 acres, including about 2 acres of wetlands. Martin described the built footprint as three main office buildings totaling about 138,000 square feet, a roughly 18,000-square-foot mechanical building and a smaller 1,800-square-foot structure; the town's current assessment uses a cost-approach method.

Ashley Castle, director of government and community affairs for GlobalFoundries, said the campus's use and occupancy have declined since the town's last commercial reappraisal, and that the site currently has a 17% occupancy rate projected to fall to 1% by January 2026. "Based on these considerations, we believe that the fair market assessment should be adjusted to $10,000,000," Castle said, adding that after discussions with the listers the parties had agreed to an adjusted valuation of $17,000,000 for 2025 and to accelerate a new assessment for 2026.

Town staff and the company said they will ask the state's Commercial Appraisal and Litigation Assistance Program (CALP) to perform a neutral third-party commercial appraisal to establish a fair-market value for the 2026 grand list. Martin said CALP is intended as a neutral state-run appraisal process and said the town views the program as a way to get expertise beyond what local appraisers can provide. She estimated the CALP timeline at roughly three to six months.

Counsel for the appellant noted that parties retain appeal rights: if the state appraisal is accepted onto the grand list, either party could later seek review in Superior Court or engage review appraisers to contest the result. One participant referenced an estimated appraisal cost of "$30,000 to $50,000," a figure that conflicts with earlier statements that CALP involvement would not impose costs on the town or GlobalFoundries; the record contains both statements.

The BCA formed a three-member site-inspection committee (members indicated: Sarah, Carter Smith and Chair Andy Michael) to visit the property, then recessed. The board scheduled final deliberation and a decision for Monday, December 15 at 6:00 p.m. The site visit and the state appraisal are the next procedural steps before the board issues a final determination.

The BCA did not take a final vote on the assessment during this hearing; the December 15 meeting is set for deliberation and decision.