Servstation Realty Co. v. Board of Assessors

Appellate Division of the Supreme Court of New York

Servstation Realty Co. v. Board of Assessors

56 A.D.2d 890, 392 N.Y.S.2d 674, 1977 N.Y. App. Div. LEXIS 11280

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

DecidedMarch 21, 1977

StatusPublished

Cited by2 cases

This text of 56 A.D.2d 890 (Servstation Realty Co. v. Board of Assessors) 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

Servstation Realty Co. v. Board of Assessors, 56 A.D.2d 890, 392 N.Y.S.2d 674, 1977 N.Y. App. Div. LEXIS 11280 (N.Y. Ct. App. 1977).

Pincite

Opinion

In consolidated proceedings to review assessments of certain real property for the tax years 1965 through 1973, petitioner appeals, as limited by its brief, from so much of a judgment of the Supreme Court, Nassau County, entered November 25, 1974, as, after a nonjury trial, confirmed the respective assessments and dismissed the petitions. Judgment reversed insofar as appealed from, on the law, without costs or disbursements, and consolidated proceedings remanded to Special Term for further proceedings not inconsistent herewith. Special Term, in applying the sound value method of appraisal to the subject real property, erroneously deemed it to be a specialty. The sound value approach is used to value specialty properties for which there is no market and which possess some element of uniqueness or special use. The subject property is a roller skating rink, which can be converted into some other, economically feasible commercial use without undue cost or expense. Since the property is not unique, it is not a specialty. Possible alternative uses of the subject property include a warehouse, dance-hall or supermarket. Rather than the sound value approach, the property should be assessed in accordance with principles governing the appraisal of nonspecialty commercial properties. Hopkins, Acting P. J., Latham, Damiani and Rabin, JJ., concur.

Free access — add to your briefcase to read the full text and ask questions with AI

In consolidated proceedings to review assessments of certain real property for the tax years 1965 through 1973, petitioner appeals, as limited by its brief, from so much of a judgment of the Supreme Court, Nassau County, entered November 25, 1974, as, after a nonjury trial, confirmed the respective assessments and dismissed the petitions. Judgment reversed insofar as appealed from, on the law, without costs or disbursements, and consolidated proceedings remanded to Special Term for further proceedings not inconsistent herewith. Special Term, in applying the sound value method of appraisal to the subject real property, erroneously deemed it to be a specialty. The sound value approach is used to value specialty properties for which there is no market and which possess some element of uniqueness or special use. The subject property is a roller skating rink, which can be converted into some other, economically feasible commercial use without undue cost or expense. Since the property is not unique, it is not a specialty. Possible alternative uses of the subject property include a warehouse, dance-hall or supermarket. Rather than the sound value approach, the property should be assessed in accordance with principles governing the appraisal of nonspecialty commercial properties. Hopkins, Acting P. J., Latham, Damiani and Rabin, JJ., concur.

Cite This Page — Counsel Stack

Bluebook (online)

56 A.D.2d 890, 392 N.Y.S.2d 674, 1977 N.Y. App. Div. LEXIS 11280, Counsel Stack Legal Research, https://law.counselstack.com/opinion/servstation-realty-co-v-board-of-assessors-nyappdiv-1977.

Opinion

Related

Cite This Page — Counsel Stack