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Hamister drops effort to reduce assessment on Niagara Falls hotel

The Hamister Group has dropped its lawsuit attempting to reduce the property taxes on its Hyatt Place hotel in Niagara Falls.

A settlement, filed last week, showed the assessment on the hotel will remain at the $4.55 million set by City Assessor James R. Bird for 2018-19. That figure will remain unchanged through the 2021-22 tax year. The settlement bars the city from changing the assessment or Hamister from challenging it again until then.

Thomas O'Donnell, deputy corporation counsel, called the outcome a win for the city.

"Hamister is pleased that we were able to negotiate with the city and end up with a mutually beneficial agreement," a company statement said.

Hamister's lawsuit last summer sought to cut the assessment to $2.37 million.

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