People Ex Rel. Hotel Paramount Corp. v. Chambers
New York Court of Appeals
I. The Appellate Division’s increase of substantially 20% over its own decision for the preceding tax year was an erroneous projection into real estate value of the 20% increase in business value reflected by the successive sales prices of $3,000,000 and $3,600,000. No other evidence in the record can account for the Appellate Division’s modification. (People ex rel. Hotel St. George Corp. v. Lilly, 45 N. T. S. 2d 599, 268 App. Div. 830, 293 N. T. 898; People ex rel.
Read the full summary
I. The Appellate Division’s increase of substantially 20% over its own decision for the preceding tax year was an erroneous projection into real estate value of the 20% increase in business value reflected by the successive sales prices of $3,000,000 and $3,600,000. No other evidence in the record can account for the Appellate Division’s modification. (People ex rel. Hotel St. George Corp. v. Lilly, 45 N. T. S. 2d 599, 268 App. Div. 830, 293 N. T. 898; People ex rel. Hotel Astor v. Sexton, 159 Mise. 280, 256 App. Div. 912, 280 N.. Y. 853; People ex rel. Manhattan Square Beresford, Inc., v.…
1Opinion of the CourtFuld, J.
The property, whose assessed valuation is here in issue, is land in the Times Square district of the city of New York, improved with a nineteen-story hotel structure, erected in 1928, and operated as a commercial transient hotel. For the tax year under review, 1946-1947, the assessed valuation of the property was $2,500,000, of which $430,000 represented the land valuation. The court at Special Term found a value of $340,000 for the land and a total value of $1,765,000 for the land and building. These findings were identical in amount with the values fixed for the property by the Appellate…
2Cases cited10 opinions
- Banner Milling Co. v. State of New YorkNew York Court of Appeals · 1925
- In Re Acquiring Title by City of New YorkNew York Court of Appeals · 1910
- People Ex Rel. Parklin Operating Corp. v. MillerNew York Court of Appeals · 1941
- People Ex Rel. Manhattan Square Beresford, Inc. v. SextonNew York Court of Appeals · 1940
- People ex rel. New York Stock Exchange Building Co. v. CantorAppellate Division of the Supreme Court of the State of New York · 1927
5 more not listed; retrieve them via the Exa API.
3Cited by50 opinions
- Aetna Life Insurance Co. v. City of NewarkSupreme Court of New Jersey · 1952
- Great Atlantic & Pacific Tea Co. v. KiernanNew York Court of Appeals · 1977
- In re the County of NassauAppellate Division of the Supreme Court of the State of New York · 1973
- In re HuieNew York Court of Appeals · 1956
- Matter of Suffolk (Van Bourgondien)New York Court of Appeals · 1979
45 more not listed; retrieve them via the Exa API.