Democrat File Photo The state is looking to sell the Frontier Building, and wants its assessment lowered.

State seeks significant drop in Frontier’s assessed value

Story by Dan Hust
ROCK HILL — August 30, 2013 — After being denied by the Town of Thompson, the NYS Liquidation Bureau (NYLB) is taking its Frontier Insurance assessment fight to Sullivan County Supreme Court.
The state is saying the former Rock Hill offices of Frontier and the 31 surrounding acres should not be assessed at $9 million but closer to $3 million.
The state shuttered operations at the former insurance company earlier this year, letting go the last four dozen employees of a company that once employed hundreds.
While a few businesses utilize the prominent Route 17 landmark, much of the 113,950-square-foot, three-story building is unoccupied.
A 20-year-old Payments-In-Lieu-Of-Taxes (PILOT) agreement with the Sullivan County Industrial Development Agency – initiated back when Frontier was building the facility – ends this coming February, which will put the complex fully back on the tax rolls.
So the NYLB formally grieved its assessment in May with the Town of Thompson, which denied their grievance – leading to the court petition filed this month.
The state, however, isn’t yet looking to sell the property. The Pyramid Brokerage firm in Newburgh is seeking new leaseholders on behalf of the state but declined to comment further until the state permits such.
NYLB officials could not be reached for comment.