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Schalmont planning to pay off more debt

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Schalmont officials are planning to pay down more debt since they do not need to keep as much money in their reserve fund for property assessment challenges. In June, the district ratified a deal that settled a decades-long tax dispute between General Electric, the school district, Schenectady County and the town of Rotterdam. The agreement lowered GE’s property assessment by $6.5 million, to $132 million, and the district agreed to repay $721,635 in property taxes ...

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