Auburn’s Nucor Steel is contesting its city property assessments in the New York State Supreme Court, asserting that the valuations should be $12.7 million less, a move that could potentially reduce the firm’s local tax bill by millions.
Nucor’s principal property saw its assessment fall from $30 million to $15.2 million in 2021. If Nucor’s appeal for a reduced assessment succeeds, the company’s tax obligations to the city, county, and school district will likely decrease, though the exact figures will depend on the details of Nucor’s ongoing payment-in-lieu-of-taxes agreement with the Auburn Industrial Development Authority.