Schenectady council reduces tax assessment for Galesi building 401 State St. lowered from $2.89 million to $2.3 million
The Schenectady City Council approved a decrease in Galesi Group’s total assessment for 401 State St. from $2.89 million to $2.3 million, lowering the taxes on the building. The council agreed to a tax certiorari after Galesi’s payment in lieu of taxes agreement for the 21,283-square-foot building expired in 2013. The developer’s last tax payment as part of the PILOT agreement was $64,190. With the reassessment of the two-story office building across from Bow Tie ...
So is that the whole council you're calling thieves? Just wondering.
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Councilman Vince Riggi said during the City Council meeting Monday evening that he agrees with the dropped assessment, a number he said was recommended by city Assessor Molly MacElroy.
“I’m not one to argue with the assessor’s office,” Riggi said. “We’re all on the same page here.”
Riggi stressed that the city should be considering a reassessment on all properties.
“In my opinion, assessment has nothing to do with PILOTs,” Riggi said. “Every building in the city has to be reassessed. We should be granting everybody relief.”
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
RIGHT THE FIRST TIME...not one to argue with the assessors office? yet the rest of us pay full cost... so the "newly"hatched assessor is the last word?
now we see whats in store when the "pilots" expire
RIGHT THE FIRST TIME...not one to argue with the assessors office? yet the rest of us pay full cost... so the "newly"hatched assessor is the last word?
now we see whats in store when the "pilots" expire
Your honesty is refreshing.
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
PROOF POSITIVE of TWO FACTS, TWO TRUTHS, TWO REALITIES!
1. Political favoritism for the city/co/plex ULTRA FILTHY RICH political cronies. Look at the ABSOLUTE FACTS: Galesi had a PILOT on this building Now that the PILOT is gone, when he would otherwise pay FULL taxes on it, he gets it reduced courtesy of the dems. And it is a guarantee that as soon as the pilots on other Galesi owned buildings expire, Galesi WILL SUCCESSFULLY get his assessments reduced. On the properties that Galesi has permanent tax exemptions, he will NOT even ask for reduction in assessments reduced.
2. It is proof positive that the whole city needs an immediate reassessment NOW, but the mayor REFUSES to spend the money. Vince Riggi has spoken many times that a reassessment must be done, but the dems IGNORE him. But when it comes to their cronies, the dems willingly grant a reduction. This was the "redeveloped downtown" folks and the property values are falling MASSIVELY! Galesi can afford fancy schmancy lawyers to get his assessment down, the average people cannot, so they are stuck paying excess taxes.
Actually there is a THIRD FACT, a THIRD TRUTH, and a THIRD REALITY. And it absolutely proves the mayors BIGGEST (in more ways than one) cheerleader 1,000% WRONG WRONG WRONG WRONG WRONG !!!!!!!!!!!!!!!
Metroplex isn't a gamble -- it is a solid investment. It has paid tremendously positive dividend to the City-County of Schenectady under its capable leadership during the past decade.
Solid investment, huh? Hey DV, what have you got to say now???????? The assessment roll has proven yet another year of a massively falling tax base. A building in the taxpayer paid forced investment, this newly redeveloped downtown has fallen in value!!!!!!!!!!!
Not holding our breath for DV to address his claim of plex being a solid investment while this is the second HUMONGOUS reduction in assessment in the heart of downtown in a short period of time.
Cat got your tongue, DV?????????? Waiting for your customary yawn.
Hey fellow readers, this property was NOT, and I repeat NOT included in the numbers on the assessment roll that showed massive reduction in the tax base!!!!!!!
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
In light of what the Mayor has been saying on tv and in the newspaper about residents and assessments, this Galesi settlement won't be doing him any favors.
it will be interesting to see if HULL AND GROUP will make this a campaign issue or not. remember....if he does.....he will be pi$$ing off the rich that are benefiting from these tax breaks....aka dem supporters.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
The nayboobs arguments are disjointed and irrational. They claim that the city is stealing money from people and don't know how to do their jobs because they lowered an assessment --- but then they also say that the property had lost value -- which clearer thinking minds would reasonably say justifies the lowering of the property assessment. It just goes to show that the nayboobs are just hate-filled, negative people. They really aren't interested in improving their community. Nothing will ever make them happy. That is why it is best to just tune them out.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
But DV it is theft. The city is taking much more from its residents then they are getting in return services like paving plowing trash pickup policing/safety and code enforcement. All of these services are sub-par, and do not reflect the high rate of residential taxation in Schenectady. When huge tax breaks are given to the new businesses in the downtown area it only hurts the residents of the city and cause the good tax paying citizens to vacate their properties, sometimes at great loss.
The assessed property values in Schenectady are not realistic! The city needs to do a full reassessment so that people are getting a better tax to value ratio. Just look at any of the homes for sale today in the city. Find me one that is listed at a price equal to its assessed value.
If you do happen to find such a property it is listed that way for one of the following reasons -The owner in underwater (owes more than the house is worth) and can’t afford to take less. -The owner is not interested in taking a lower price than what was paid (and will sit on the property till it is lowered) -Is a new listing and they are starting high and going to reduce it later to show a willingness to drop the price
The city needs to..... Reassess all city properties to equal out the assessment to value ratio Properly tax the businesses of Schenectady (no more free rides) Change the management of Metroplex and the way it hands out our tax dollars
We know of two homes that recently sold in the City of Schenectady.
Both were owned by elderly folks who passed away.
The kids had to sell the homes for next to nothing BECAUSE the taxes were so high.
OH....and both homes were bought by folks in their late 50's early 60's.....no school age kids.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I know of a couple who walk away from their home in the Central Park area because they we underwater and needed to move because of job relocation. It was put on the market for almost 2 years after they were alerted to the possibility of the move.
They took a huge hit to their credit and had problems buying in their new location.
That's what my post about the houses not selling well referred to. There's a house that is being dumped, at $49,900(!), because it could not be sold due to the taxes of nearly 8 grand. I could cry. Two women, they had to have been misled by someone, bought an 'affordable' house they couldn't afford. This is why I support M/C in constantly adding to whatever information they can, trying to get the facts out there, because realtors, the media, the banks, and especially the city will tell you outright lies when it comes to real estate and financial issues.
They took a huge hit to their credit and had problems buying in their new location.
did they end up buying in their new location? we know many many many folks in other states who lived in areas just like the CITY OF SCHENECTADY and walked away. And yet they successfully purchased another home. and they are much much much happier. ya just can't put a price on happiness/peace.
I applaud them.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
That's what my post about the houses not selling well referred to. There's a house that is being dumped, at $49,900(!), because it could not be sold due to the taxes of nearly 8 grand. I could cry. Two women, they had to have been misled by someone, bought an 'affordable' house they couldn't afford. This is why I support M/C in constantly adding to whatever information they can, trying to get the facts out there, because realtors, the media, the banks, and especially the city will tell you outright lies when it comes to real estate and financial issues.
Quit claim the house to grandma and rent it back . Is everyone that hung up on ownership ?
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