Manufacturers Hanover Trust Co. v. Tax Commission

Appellate Division of the Supreme Court of New York

Manufacturers Hanover Trust Co. v. Tax Commission

25 A.D.2d 845, 271 N.Y.S.2d 551, 1966 N.Y. App. Div. LEXIS 4112

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMay 24, 1966

StatusPublished

This text of 25 A.D.2d 845 (Manufacturers Hanover Trust Co. v. Tax Commission) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Manufacturers Hanover Trust Co. v. Tax Commission, 25 A.D.2d 845, 271 N.Y.S.2d 551, 1966 N.Y. App. Div. LEXIS 4112 (N.Y. Ct. App. 1966).

Pincite

Opinion

Judgment unanimously reversed on the law and on the facts, and assessment confirmed, with $50 costs and disbursements to appellant city. In this tax certiorari proceeding we find the proof by sales of comparable properties established that the land assessments did not exceed the value of the property. Adjustment of the income by giving a fair allowance for the owner-occupied space and by deleting those expenses not attributable to the operation of the building as distinct from the owner’s business, shows a return which, when capitalized at rates indorsed by claimant’s expert, exceeds the assessed building valuation. Settle order on notice.

Concur — Breitel, J. P., Rabin, Stevens, Eager and Steuer, JJ.

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Judgment unanimously reversed on the law and on the facts, and assessment confirmed, with $50 costs and disbursements to appellant city. In this tax certiorari proceeding we find the proof by sales of comparable properties established that the land assessments did not exceed the value of the property. Adjustment of the income by giving a fair allowance for the owner-occupied space and by deleting those expenses not attributable to the operation of the building as distinct from the owner’s business, shows a return which, when capitalized at rates indorsed by claimant’s expert, exceeds the assessed building valuation. Settle order on notice.

Concur — Breitel, J. P., Rabin, Stevens, Eager and Steuer, JJ.

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Bluebook (online)

25 A.D.2d 845, 271 N.Y.S.2d 551, 1966 N.Y. App. Div. LEXIS 4112, Counsel Stack Legal Research, https://law.counselstack.com/opinion/manufacturers-hanover-trust-co-v-tax-commission-nyappdiv-1966.