Tax Capitalization OK In Property Evaluations: NY Court

Law360, New York (November 7, 2013, 6:36 PM EST) -- A New York appeals court on Wednesday affirmed a decrease in a Long Island country club’s property tax assessment to account for capitalization of tax payments, saying the court had previously affirmed the formula used by the club.

The Appellate Division struck down the Nassau County Board of Assessors' argument that the capitalization rate used to determine the value of the Hempstead Country Club's property should not be increased by a factor accounting for the real estate taxes, which would have significantly increased the assessed value...
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