Attorneys for Jay Peak are challenging the ski resort’s nine-figure property tax bill, according to the Caledonian-Record. A hearing is scheduled in Newport for October 29.
The resort wants the Town of Jay to reduce its property tax assessment by more than half, from $120.8 million to $58.5 million. Jay Peak is currently for sale and is under the authority of a court-appointed receiver.
Its former owner, Ariel Quiros, pleaded guilty in August to defrauding foreign investors through the EB-5 program. His two former co-defendants in the largest fraud case in Vermont’s history are scheduled to go to trial next April.