BURLINGTON - The Massachusetts Appellate Tax Board ruled that the Burlington of Assessors overvalued the Macy’s property in the Burlington Mall from 2014-2016.
The town will have to refund $263,425.54 to Macy’s, as a result of the Appellate Tax Board ruling on July 11. The Burlington Board of Assessors turned down an abatement request, generating an appeal to the Appellate Tax Board by Macy’s.
The exacts numbers disclosed by the Appellate Tax Board detail that the Board of Assessors overvalued the Macy’s property by $1.5 million in 2014, $3.8 million in 2015, and $3.8 million in 2016. The ruling will see Burlington forced to refund tax payments to Macy’s for $47,102.64 in 2014; $110,405.82 in 2015; and $105,917.08 in 2016.