A Main Street property that was among more than a half-dozen properties acquired years ago by developer Dornoch Holdings won a tax appeal, knocking about 17 percent off the tax bill for 2012 and a 6-percent reduction in the assessment.
The property at 1501 Main St. (Block 320, Lot 12) had an overall property tax bill of almost $14,700 last year. The assessment for 2013 was $229,700 and reduced by about 6.3 percent to $215,100, according to property records.
The City Council authorized a credit of $2,505.79 due to a judgment of the state Tax Court. Resolution AR-60-14 was approved at the March 12 meeting and included three other properties as well. Tax appeals adjudicated at the county Board of Taxation reached a record level in 2012, costing the city more than $500,000 in tax refunds to more than 350 properties.
The Main Street property, known as Dornoch II.V., was acquired in May 2007 for $515,000, according to property records.