Analyze this: Robert De Niro backs down in property tax fight

After three years, actor's trust agrees to $6M assessment of property in Gardiner, NY

New York /
Nov.November 19, 2014 09:00 AM

Bada bing bada boom. Robert De Niro and the town of Gardiner, N.Y. have reportedly come to an agreement about the value of the actor’s 98-acre property, A dispute about the $6 million assessment of the raging bull’s property had gone on for three years, according to the New York Times. De Niro’s Riverside Trust bought the property in 1997 for $1.5 million. In time, the trust added 20 acres to the property and constructed a recreation center that includes a game room, a gym, a basketball court and more. But the trust challenged the $6 million property assessment in 2010, saying it was worth $4 million.  

In turn, the town — population: 5,800 — said that upon closer inspection, the property’s assessment was closer to $9 million, the newspaper reported. 

In the agreement with the town, the trust promised to drop the appeal, thereby keeping the assessment at $6 million. The trust has also agreed to pay the town’s $129,000 legal bill, the newspaper reported. [NYT] — Claire Moses


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