The Town of Vestal has reached settlements with two area businesses following legal battles. The community will be refunding over $22,000 in tax revenue following the settlements, which involved the Clayton Village Apartments and the Courtyard Marriott hotel. The legal battles stemmed from challenges over the assessed values of the two properties. Vestal has seen the value of its commercial real estate drop by nearly $6.5 million during the past five years. Though it represents a small portion of the town’s taxable value, the legal settlements will ultimately translate into lower tax revenue for the town, county, and the Vestal School District. Owners of the Clayton Village Apartments have filed civil lawsuits against Vestal every year since 2009 demanding reductions in the property assessment for their business. Under the settlement, the apartments had their assessment reduced by $862,000, a decrease of nearly 20 percent.
