The court trial over Long Island Power Authority’s property tax dispute with Huntington Town ended this week. A final ruling on the case is not expected for months.
Lawyers for LIPA and Huntington Town argued over the property assessment of the company’s Northport plant for months. LIPA hopes to be awarded drastic cuts to the $84 million in property taxes it pays every year.
The ruling could also force the town to refund LIPA for $650 million the company paid in tax payments for years.
Town and school district officials say such a ruling would be devastating to property values and school budgets.
A New York state Supreme Court judge is expected to reach a decision before the end of the year. But LIPA and town officials may resume mediation talks next month to reach a settlement.
