New Wabtec Assessment: $41 Million
The Erie County Board of Assessment Appeals today set a new assessment value for the sprawling Wabtec property.
The new value is $41 million.
The decision is a compromise.
At a recent hearing, the Iroquois School District pushed for a $161 million dollar assessment. That was the purchase price of the former GE Transportation property.
Wabtec had argued that was a replacement value not the true value, and wanted the assessment to remain at about $24 million.
Either side can appeal the decision to Erie County Court.