Following three years of litigation, the Firm obtained a favorable decision in an assessment appeal involving a 125,000 square foot office building in Windsor, CT. The property was assessed at a full value of $8.8 million as a result of the Town-wide revaluation in 2018. The property owner then challenged the assessment through an appeal to the Superior Court. A two-day bench trial was conducted in August 2022 before the Tax Session of the Superior Court in New Britain. The Court issued its decision in October, expressly crediting the testimony of the property owner’s appraiser and its listing agent at CBRE, and concluding that the actual full value of the property as of October 1, 2018 was $5.85 million, i.e., almost $3 million less than the value ascribed by the Town. See COF Real Estate Investments, LLC, Series C v. Town of Windsor, 2022 WL 14439463 (Conn. Super. Oct. 19, 2022). The decision will result in substantial tax savings for the Firm’s client. Jim Riley acted as lead trial counsel for the property owner, assisted by Trevor Larrubia.
Richard Mancuso, Drew Nelson, Nick Douglas and Eleni Choephel represented a Connecticut-based company engaged in the business of distribution and testing of electronic components that services the commercial, defense and aerospace industries in connection with the negotiation and sale of the company to an international electronic components distributor based in the United Kingdom.