SHELBURNE, Vt. (AP) - The town of Shelburne has refunded more than $333,000 in overpaid property taxes to Vermont's Wake Robin retirement community.
The payment followed a ruling by the Vermont Superior Court after the town and Wake Robin disagreed on the appraisal of the 136-acre property, which has 295 residential units, including about 80 assisted and nursing care units.
During the December 2012 trial, Wake Robin calculated its own fair market value at $40 million. The town appraised Wake Robin at $53.6 million. The two sides agreed to use the value of the property in April 2010.
The Burlington Free Press reports assessors from Wake Robin and the town used different methods to calculate the fair market value of the property.
Judge George Crawford decided Wake Robin's method more was credible.
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