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NYCO, Lewis continue battle over assessment

LEWIS The town of Lewis is appealing a recent decision to reduce the assessed value of NYCO Minerals property.

On July 26, the Appelate Division affirmed a trial court decision from Essex County Supreme Court that reduced its assessment of NYCOs Lewis mine.

The town has appealed the decision of the Appellate Division to reduce NYCOs assessed Lewis property from $5.5 million to $1.3 million. The case has been moved into the New York State Court of Appeals, the highest court of the state.

Lewis Supervisor Anthony Glebus said the $5.5 million the town assessed is the most significant piece of real estate in the town, which has an overall assessed value of $77 million.

If the Appelate court case is upheld, the Elizabethtown-Lewis Central School district will have to refund $511,000 in taxes, the town of Lewis will need to refund $175,000 and Essex County will need to refund $103,000.

The town of Lewis and NYCO have been in court over the mines assessed value since 1997. The town of Lewis won the 1997-1999 cases, while NYCO has won its case 2000-2005. Glebus said town officials expected to receive petitions from NYCO from 2006-2008.

Glebus said the town was requesting the sale documents from the recent sale of NYCO Minerals and all its properties to help with its case and pending litigation for 2006 and 20077. In a press release, he stated the figure had not been made public.

We want to know what the real selling price of the property was, said Glebus.

Dan Votraw, NYCOs General Manager, said the figure of $35 million had been announced in industrial magazines. The sale included the Mexican operation, along with an operation in Missouri. He was unsure of the exact value of NYCOs Adirondack properties.

Votraw said that due to ongoing litigation, he was unable to comment on the case.

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