The 127-acre Saratoga Racecourse a few miles west of Breyo's mansion is assessed at $40.7 million, the Saratoga Springs city Web site states. The city's assessment of Breyo's property puts it over half the value of the racecourse, but Breyo said the valuation is closer to that of City Hall. Using the city's assessment rates, the assessment he is fighting for is $4.3 million"less than one-fifth of the city's assessment, or slightly more than what City Hall on Broadway is presently assessed, according to the city's Web site.
The city assesses property at 83 percent of market value. Franck's full valuation of Breyo's home and 29-acre property was $24 million, making the assessed value $19.9 million.
The city's accounts office sent out more than 500 assessment changes this year for new houses and additions and received 99 grievances, Franck said. Of those, the city's independent assessment board changed 49, he said.