New Castle News
NEW CASTLE —
New Castle City Council approved a new assessed value for Westview Terrace on the city’s West Side last night.
The compromise settlement for the property is $3.2 million.
The property originally had been assessed at $2 million. However, Westview Terrace Estates LP, which has its address in New Castle, purchased the property for $4.2 million in 2011 from Westview Investors LLC of Cleveland.
The New Castle Area School District subsequently appealed the assessed value to the Lawrence County Board of Assessment Appeals. The board then set the assessment at $4 million.
After the owner appealed to Lawrence County common pleas court, a compromise settlement was reached contingent on formal approval by the city, county and school district.
Asssistant solicitor Jonathan Miller said the county and school district are on board with the agreement.
The school board and the county commissioners expect to vote on similar resolutions next month.