MALTA - GlobalFoundries Inc. is challenging the $160 million assessment that the town of Malta has tentatively placed on its property at the Luther Forest Technology Campus in Malta.
Rather, the company believes the property to be valued at $56 million.
Town assessments determine property taxes, but all land owners have the right to file grievances.
GlobalFoundries has spent $160 million at the site, money that the state is reimbursing GlobalFoundries for.
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