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Town approves tax-assessment settlements including property in Village of Larchmont
Summary
The board approved two tax certiorari settlements: a retail property in the Village of Larchmont (Diamond Court Realty) and a large apartment building on Fenimore Road; the settlements reduce assessed values and will result in modest town refunds.
The Town Board voted to approve two tax-certiorari settlement proposals described by the town attorney.
Larchmont property (Diamond Court Realty): The board considered a settlement for property at 2090 Boston Post Road in the Village of Larchmont (retail with a dance studio upstairs). Under the proposed agreement, the property's assessed value for 2020 would be reduced from $3,000,000 to $2,500,000, with similar adjustments for subsequent years. The town's estimated refund obligation under the proposal was about $1,100; the school district and Village of Larchmont would pay their respective shares of refunds.
Fenimore Road Realty (multifamily): The board also approved a proposed settlement for Fenimore Road Realty at 151 Fenimore Road, a seven-story, 87-unit apartment building. The settlement would lower assessed values across 2020'2025 and is estimated to cost the town about $8,240 in refunds; the school district and Village of Mamaroneck would bear larger portions of the refunds, according to the town attorney.
Board action: Both settlements were moved, seconded and approved by roll-call votes.
What to watch for: The attorney said the Board of Education had reviewed and agreed to the Larchmont proposal and that the Village refunds were likely to follow their trustee approval processes.
Details not specified: The transcript presented the settlement numbers and estimated refunds but referenced confidential appraisal materials and memoranda for full valuation details.
