David Silipigno Will Receive Over $180,000 In Repayment And Credit From The City

David Silipigno, a renowned entrepreneur from Saratoga Springs recently took a legal

action against the city on his 20,800-square-foot home at 36 Stony Brook Drive Residence. He challenged the city on his Saratoga residence for which he was charged double the amount of the actual assessment. In a report, it was stated that his mansion was assessed in 2008 at $9.3 million and based on the city's assessment rate of 83 percent of market value Silipigno was responsible for taxes on $7.6 million. David challenged this assessment, claiming that his home was worth only $2.8 million for which was responsible for a $2.1 million tax liability.

David Silipigno had to face a lot of humiliation and criticism for doing this as the city was aware of its consequences and did not want him to bring this case to the notice of the judge. On July 20, the City Council voted in executive session to authorize Mayor Scott Johnson to settle this case after assessing Silipigno's home at a total value of $4.4 million, of which $3.6 million is taxable. The city later on settled for less than half the original assessment. According to a report, David Silipigno will be receiving over $180,000 in repayment and credit from the city.

In an interview about this property tax case, David Silipigno said that the commissioner had no intentions of settling this case until he was put into this situation where he had no choice but to settle for less than half the original assessment. According to David Silipigno, the commissioner was waiting for paper work, which was just a poor face saving attempt made by him. Moreover, this was nothing more than just a money grabbing attempt made by the city which was proven unsuccessful. Adding to this, he says that such property tax cases are a proof and lesson for people who negatively react to every headline. Such cases shed light on the city's reckless attacks on homeowners and given the declining value of property in Saratoga Springs, all homeowners facing such inflated assessments must challenge the city.

David Silipigno Will Receive Over $180,000 In Repayment And Credit From The City

By: John Smith

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