Holcim has received a whopping $1,563,000 reduction in its property tax assessment from the Board of Assessment Review in the City of Hudson, according to publicly-available data.
The BAR decision, signed by members Philip Forman and Rachel Kappel, brought Holcim’s assessment down 33%, from over $4.5 million to just $3 million.
The reduction was by far the largest reduction in valuation, in terms of dollars, provided by the BAR this year. Out of some 148 property owners who appealed to the BAR for help this year, nearly half (70) received no reduction at all.
The Swiss-owned multinational, which has been a constant source of controversy locally over the past 15 years, has been simultaneously suing the City over its taxes. It’s unclear if the reduction will cause Holcim to withdraw its (even greedier) legal complaint, which in 2011 argued it should be assessed at less than $1.6 million. According to some reports, State approval of the City’s deeply flawed Local Waterfront Revitalization Plan has been stalled due to Holcim balking at transfer of some South Bay acreage while that suit was still in court.
This site will be reporting on other notable tax discounts provided by the BAR in the coming days.
