In a property tax assessment challenge for the years of 2024, 2025 and 2026 of property between 478 Main Street LLC v. City of Beacon for the apartment building of 478 Main Street, that was before the Dutchess County Supreme Court with the Hon. James V. Brands, J.S.C., presiding, 478 Main Street LLC has won the challenge.

The Assessments for 2024 ($1,300,000), 2025 ($1,400,000) and 2026 ($1,450,000) has been revised to 2024 ($1,137,500), 2025 ($1,190,000) and 2026 ($1,190,000). For each year, the reduction is 2024 (-$162,500), 2025 (-$210,000) and 2026 (-$260,000).

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 478 Main Street LLC and the City of Beacon will be liable for a City tax refund of $3,319.70.

It should be noted that in the City Of Beacon's agenda, the address was 487 Main Street. But in the Resolution and the property name, the address is 478 Main Street.

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.

Said one @acosmtologistinthehudsonvalley at Instagram after reading this article: “The owner did threaten me to call ICE on me. How ever getting IRS claim is not bad thing.”