Lawsuit challenged property tax increases
The owner of The Depot in Cold Spring won reductions in the assessed values for his restaurant and a tranche of Main Street properties he purchased in February 2023 for prices ranging from $768,000 to $2.3 million.
In a settlement approved by a state judge in Carmel on Feb. 13, the reductions in assessed values — the percentage of market value on which properties are taxed — ranged from $36,108 for 80 Main St. to $116,701 for 93-97 Main St.
Greg Pagones, in a lawsuit filed Oct. 29 against Philipstown, Cold Spring, the Haldane school district and Putnam County, challenged increases in assessed values that ranged from $39,600 for 80 Main to $128,050 for 93-97 Main.
The revisions caused “significant” tax increases, including a 20 percent rise in the Haldane levy, according to Pagones. Under the settlement, the increase in the assessment for 89-91 Main St. remains in place.
