WPCNR THE CERTIORARIAN. By John F. Bailey. June 23, 2009 UPDATED 12:10 P.M. E.D.T. (Updates in Italics):  The Board of Education approved a $4,177,152.05 certiorari refund to The Galleria Mall Monday evening covering the years 2006,2007 and 2008, Assistant Superintendent for Business Fred Seiler reported to WPCNR this morning. City Assessor Lloyd Tasch said the city was negotiating with two other malls in the city on their assessments, indicating there may be more certiorari and assessment losses the rest of this year from those other two retail properties.

Fred Seiler, Assistant Superintendent for Business, White Plains City School District, Monday evening speaking. The BOE tabled consideration of a mystery certiorari, as is their practice, went into Executive Session after their regular meeting and approved a $4.1 Million certiorari tax refund for The Galleria Mall covering the last three years.

Seiler said the $4,177,152.05 Million sum will be paid in two parts, half this coming December and half in August, 2010. Seiler said the amount should be covered by the School District reserve for certioraris and a certiorari bond for  about $8 Million, previously marketed successfully earlier this year.

City Assessor Lloyd Tasch confirmed to WPCNR Wednesday morning that the assessed market value of the Galleria has been lowered $120 Million  (from $260 Million) for the last three years, and as part of the settlement, the usual “3 year freeze” preventing owners for filing assessment grievances for three years after being granted a certiorari, has been waived in The Galleria case, meaning a further drop in The Galleria assessment for this year 2009 is likely. 

Tasch, asked how the $120 Million (in assessed market value)has been taken off the city tax roll said about “half”the $120 Million was taken off this year’s  2009 roll,  and that the other half would be taken off the roll for 2010, however, Tasch revealed that because of the waiver of the 3-year freeze, the city and The Galleria are “still in negotiations” to determine the 2009 assessed value. Tasch told WPCNR that $2 Million of Assessed Value translates to $88 Million of market value.

Asked how the shortfall was made up on this year's roll, Tasch said that the Ritz Carlton second tower had come on the market and that "made up for a lot of it (the Galleria market value decrease).

The amount the city will refund on the certiorari should be about $1 Million, since $4 dollars in school property taxes are collected for every $1 the city collects. The Common Council will be made aware of the city portion of the refund Thursday evening.

Tasch was asked if future assessments of The White Plains Mall and the Westchester Pavilion could be lowered. Tasch said the city was in negotiation with those two malls that could lead to lowering of their assessments.

Tasch said the city is not in negotiation with The Westchester, which Tasch described as the city’s “strongest mall, completely leased up.”

Incidentally, the news comes one day after the County Board of Legislators tabled a vote on establishing a Westchester County Assessment Commission to establish standards for assessment across the county to address the falling value of the county municipality tax rolls. Legislator Thomas Abinanti was responsible for postponing the vote by announcing the word “over” with no explanation, forcing the vote to July 7, unless another legislator decides to “over” the Assessment Commission legislation.