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NY Tax Panel Boosts Developer's Case For $7M Tax Credit

Law360, New York (June 2, 2016, 5:58 PM EDT) -- The New York Tax Appeals Tribunal has asked an administrative law judge to reconsider a decision that the state acted properly in denying a $7 million property tax credit to the developer of a mixed-use facility in Yonkers, finding in a ruling released Thursday that the developer met an employment increase required for the credit.

Sending the case back to the judge, who last year backed the state Division of Taxation’s denial of the credit to Forest City Enterprises Inc. after finding the developer had not shown it met a jobs increase requirement, a three-judge panel said the developer’s assertion that...

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