Friday, January 16, 2009
Developer seeks tax abatement
Carlisle Assessor Melissa Stamp and Town Counsel Richard Hucksam appeared before the Massachusetts Appellate Tax Board on January 12 in response to an appeal for a real estate tax abatement by William Costello, of Bingham Road, LLC. The abatement is being requested for FY08 taxes paid for lots in the Greystone Crossing development on Cross Street. The project includes 15 lots in a conservation cluster on 47 acres. One lot has been sold for $675,000, but the other 14 lots remain unsold. Stamp said there is a disagreement relating to the higher valuation given the parcels when they were reclassified as buildable house lots. The FY08 reclassification resulted in roughly $65,000 additional revenue to the town, according to Town Treasurer and Tax Collector Larry Barton. Stamp said the judge who heard the case has 90 days to issue a decision.
Costello has developed property in town for many years. Previous projects have included Carriage Way and Tall Pines.∆
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