The Villas at Riverheights falls within the Urban Enterprise Zone in Norwich, which means the taxes are phased in over the next 8 years.
A letter dated November 2, 2007 from Charles S. Glinski, the Assessor of the City of Norwich states:
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Please be advised that the following property falls within the Urban Enterprise Zone.
19 Thermos Avenue
The Estate at River Front, LLC has filed all required forms and as such the above named property is eligible for the fixing of assessments.
The following outlines those benefits.
The increase in the assessment attributable to improvements will be phased in according to the following schedule:
First Year: 0% - Until October 2009
Second Year: 0% - Until October 2009
Third Year: 50%
Fourth Year: 60%
Fifth Year: 70%
Sixth Year: 80%
Seventh Year: 90%
Sincerely,
Charles S. Glinski
Assessor
City of Norwich
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