The owner of an 8,700-square-foot commercial building on Elm Street last week filed a claim in state Superior Court appealing the town’s decision to preserve its assessment of the property from last fall.
In its October revaluation, the town assessed the two-story structure at 111 Elm St. at $3,063,480, a figure that is “grossly excessive, disproportionate and unlawful,” according to a lawsuit filed April 18 by attorneys Gary Klein and Liam Burke of Stamford-based Carmody Torrance Sandak & Hennessey LLP.
The property owner, a Southport-based limited liability company whose principal lives in Palm Beach, Fla., sought relief from the New Canaan Board of Assessment Appeals but that appointed body made no changes, “thereby denying the relief the Applicant requested,” according to the complaint.
“The applicant is aggrieved by the decision,” it said.
The property owners is seeking a reduction and to be reimbursed for any tax overpayment with interest, according to the suit.
Town officials said during the budget season that wrapped up this month that the real estate portion of New Canaan’s Grand List—a tally of all taxable property in the town—is expected to decline by about $37.6 million following post-revaluation assessment appeals. Given New Canaan’s anticipated mill rate of 18.259, that makes for a reduction of about $672,000 in town revenue, officials said.