OSWEGO, NY – The Oswego City School District approved two agreements Tuesday night to settle a pair of tax challenges.
Loretto-Oswego Realty Corporation (Loretto-Oswego Residential Health Care Facility) filed a petition seeking a reduction of the assessed value of its property for tax parcel 146.30-03-04 located in the city of Oswego for the tax year 2011-12.
The school district filed an answer to the petition and is thus a party to the proceeding.
Loretto-Oswego offered to settle the pending proceedings by a reduction of the assessed value of the parcel (from $1,400,000 to $850,000) for tax year 2011-12 with refunds paid based upon the reduced assessment.
According to the resolution, the city has agreed to the proposed settlement.
Marbell Realty Corporation filed a petition seeking a reduction of the assessed value of its property ($1,239,000 to $500,000) for tax parcel 128.39-04-01 located in the city of Oswego for the tax year 2012-13.
The city has agreed to the proposed settlement, according to the resolution.
Refunds will be based upon the reduced assessment.
The board voted 6-0 to approve both deals.
The resolutions took effect immediately.