Two Jamestown drug stores will see decreased tax assessments in the coming year, but not nearly what they had been requesting.

State Supreme Court Judge Grace Hanlon recently approved settlements to assessment complaints filed by CVS Pharmacies for its South Main Street, Jamestown, location and Walgreens for its Prospect Street, Jamestown, location.

Walgreens asked the court to decrease its tax assessment from $2,425,000 to $727,500, a decrease of $1,697,500. Company officials claimed the tax assessment on the building exceeded the full value of the property, was made at a higher percentage of value than the assessed value of other property in the city, was misclassified by the city and that the Walgreens location hadn’t received all or a portion of a business investment tax exemption to which it was entitled.

Hanlon ruled the 2023 assessment should remain the same while decreasing the 2024 assessment by $175,000 to $2,250,000. That tax assessment will be used for 2024 and 2026 unless the city undergoes a property reassessment or update. If the city undergoes a property revaluation, the tax assessment won’t be allowed to exceed $3,082,000.

At the same time, Walgreens won’t be allowed to file an assessment complaint for 2025 and 2026

CVS had asked for its assessment to be decreased from $1,920,000 to $960,000 for 2023 and 2024. Hanlon ruled the assessment for 2023 should remain the same and decreased the assessment for 2024 by $50,000 to $1,870,000. Hanlon also ruled that all refunds otherwise owed to CVS are waived.