Regional Mall

CONNECTICUT

Initial Value $312,273,000
Final Value $274,250,000
Estimated Savings (4-year period) $3,350,000

 

A 1.1-million-square-foot regional mall in Connecticut was reassessed for the four year assessment cycle. The Assessor, citing recent improvements to the center, increased the value substantially to over $310,000,000. After a lengthy assessment appeal, the property’s value was reduced to $274,250,000 generating tax savings of $3,350,000 for the four year assessment period.