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Four companies challenge assessment

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POTSDAM - Four companies will be going before the state Supreme Court to challenge their properties’ assessed value.

The filing deadline for challenges was Wednesday.

The plaza at 200 Market St., which houses Big Lots and other businesses, is continuing its ongoing challenge of its $2.5 million assessment. They initially challenged the assessment last year, and the issue has not yet been resolved.

“Sometimes these things take years to settle,” Potsdam Sole Assessor James Snyder said.

Lawrence Avenue Apartments, owned by Chason Affinity Inc., Buffalo, is challenging its $3,575,000 assessment, which is based on new improvements to the apartment complex.

According to Affinity, the improvements have not increased the amount they can make on the property because the apartments are subsidized and the rent is fixed. The company did not submit paperwork making this fact clear on time, Mr. Snyder said, leading to the higher assessment.

The Kinney Drugs at 48 Maple St. is challenging its $1.5 million assessment.

Erie Boulevard Hydro Power is challenging the town’s evaluation of eight different properties, a total combined assessment of approximately $15.8 million. The company is arguing that the shrinking price of natural gas has brought electricity costs down with it, lowering their bottom line, according to Mr. Snyder.

Potsdam is preparing to reassess all of the town’s properties next year, the first full reassessment since 2008, Mr. Snyder said.

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