NAUGATUCK — The Board of Mayor and Burgesses this month approved taking five parcels of land in lieu of nearly $22,000 in back taxes.
Mayor N. Warren “Pete” Hess said Realrock Associates, LLC, which owns the properties, owed back taxes on three of the parcels, which total 5.7 acres, on Westover Drive, Graham Ridge Road and Krodel Road.
Those three properties are mostly wetlands and unbuildable, Hess said.
“Even if we foreclosed we wouldn’t get anything because it has no value,” Hess said.
So, in exchange for forgiving the back taxes, Realrock Associates offered the borough two adjacent buildable lots that are each 0.69 acres. The lots are on Graham Ridge Road and Krodel Road.
According to Hess, the company is up to date on the taxes on these two properties. He said the borough can sell the two lots to recoup any money owed in back taxes.
“So, we are basically getting a valuable buildable piece that is worth more than we are giving up,” Hess said. “It is actually a good trade for us. It helps him, but we will make money on the deal.”