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Section: CAPITAL REGION Page: B5

Saturday, March 1, 2003

GUILDERLAND WINS MALL TAX ASSESSMENT DISPUTE

Albany Crossgates owner Pyramid Co. loses $6M rebate in ruling

ANNE MILLER Staff writer

 

Reprinted from the Times Union


A judge affirmed Guilderland's tax assessment on Crossgates Mall Thursday, a victory worth several million dollars in a decade-old fight over tax rates between the town and the shopping center.

The battle will continue in mid-March. Town, school board and mall attorneys have scheduled a court-ordered attempt to settle remaining cases.

``We get rid of a year or two, and then a couple years get added on because it's so hard to get rid of,'' said Supervisor Ken Runion.

The mall's owner, Pyramid Co. of Syracuse, has fought nearly every town tax assessment since 1993. In 2001, it missed the deadline to appeal the town's assessment.

The decision by the Appellate Division of state Supreme Court came in response to an appeal by mall representatives concerning the 1996-97 and 1997-98 tax years.

During that time, the town said the mall was worth $198 million. Pyramid put its value at $119 million.

Had Pyramid won this latest appeal, the town would have been forced to rebate approximately $6 million to Pyramid, Runion said. The conflict is not over, he added.

The remaining lawsuits total almost as much, at a cost to the town and school board of more than $500,000 in legal fees.
Crossgates' general manager, management company officials and attorneys were not available for comment Friday afternoon.

This page last modified January 12, 2008
Contact Save the Pine Bush at pinebush@aol.com.