Stewart Tenants Corp. v. Tax Commission

Appellate Division of the Supreme Court of New York

Stewart Tenants Corp. v. Tax Commission

25 A.D.2d 623, 267 N.Y.S.2d 762, 1966 N.Y. App. Div. LEXIS 4804

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

DecidedMarch 8, 1966

StatusPublished

Cited by1 cases

This text of 25 A.D.2d 623 (Stewart Tenants Corp. 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

Stewart Tenants Corp. v. Tax Commission, 25 A.D.2d 623, 267 N.Y.S.2d 762, 1966 N.Y. App. Div. LEXIS 4804 (N.Y. Ct. App. 1966).

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Opinion

Order, entered on or about January 6, 1965, unanimously reversed, on the law and the facts, with $50 costs and disbursements to the Tax Commission, and the assessments confirmed. In our opinion the record lacks substantial basis for a reduction of the assessments. The building was constructed so close in time to the instant taxable years that its actual cost of construction becomes a significant factor (Matter of 860 Fifth Ave. Corp. v. Tax Comm., 8 N Y 2d 29, 32; Matter of Seagram & Sons v. Tax Comm., 18 A D 2d 109, 114, affd. 14 N Y 2d 314) and assumes added importance since we do not find depreciated reproduction cost or economic value convincingly estimated, The construction costs, as taken from the books, corroborated by the informed testimony of David Rapoport, amply sustain the building assessments, and any material deduction because of asserted “ defects, deviations and missing items ” would be speculative on this record. After consideration of the evidence relating to sales of other parcels, the land assessments appear to us within permissible range. Settle order on notice.

Concur — 'Botein, P. J., Breitel, Rabin, Eager and Bastow, JJ.

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Order, entered on or about January 6, 1965, unanimously reversed, on the law and the facts, with $50 costs and disbursements to the Tax Commission, and the assessments confirmed. In our opinion the record lacks substantial basis for a reduction of the assessments. The building was constructed so close in time to the instant taxable years that its actual cost of construction becomes a significant factor (Matter of 860 Fifth Ave. Corp. v. Tax Comm., 8 N Y 2d 29, 32; Matter of Seagram & Sons v. Tax Comm., 18 A D 2d 109, 114, affd. 14 N Y 2d 314) and assumes added importance since we do not find depreciated reproduction cost or economic value convincingly estimated, The construction costs, as taken from the books, corroborated by the informed testimony of David Rapoport, amply sustain the building assessments, and any material deduction because of asserted “ defects, deviations and missing items ” would be speculative on this record. After consideration of the evidence relating to sales of other parcels, the land assessments appear to us within permissible range. Settle order on notice.

Concur — 'Botein, P. J., Breitel, Rabin, Eager and Bastow, JJ.

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Bluebook (online)

25 A.D.2d 623, 267 N.Y.S.2d 762, 1966 N.Y. App. Div. LEXIS 4804, Counsel Stack Legal Research, https://law.counselstack.com/opinion/stewart-tenants-corp-v-tax-commission-nyappdiv-1966.

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