Groton, Pfizer Strike Deal On Tax Dispute: Report

GROTON, CT — Groton and Pfizer, Inc. have settled two tax appeals that will require the town to give the company a $4.1 million tax credit over the next five years, The New London Day reported. The dispute is over the value of the pharmaceutical giant's properties on Eastern Point Road.

The two parties reached an agreement last month, which calls for the company's tax burden to be reduced by $820,000 per year for the next five years.

Read the full story in The New London Day.