Property Tax Reduction of $64K Won For 798 Wolcott Ave. Apartment Building

In a property tax assessment challenge of the 2025 and 2026 assessments of property between Prospect Realty Syndicate Inc. v. City of Beacon for the apartment building of 798 Wolcott Avenue, that was before the Dutchess County Supreme Court with the Hon. James V. Brands, J.S.C., presiding, Prospect Realty Syndicate Inc. has won the challenge.

The Assessment for 2025 and 2026 of $800,000 has been revised to $736,000 for both years, a reduction of $64,000 for both years. This was voted on by City Council during the 10/19/2026 City Council Meeting.

According to the City of Beacon’s Resolution approving this agreement, a proposed settlement of these proceedings has been reached by and between Prospect Realty Syndicate Inc. and the City of Beacon will be liable for a City tax refund of $558.08.