10-20 Glenwood Associates v. Assessor of the City of Binghamton

OPINION OF THE COURT

Robert W. Coutant, J.

In this tax certiorari proceeding, petitioner is the owner of a parcel of real property in Binghamton, New York, improved by a shopping center known as the Foundry Plaza. Petitioner has moved for partial summary judgment claiming that it is entitled to a tax exemption pursuant to Real Property Tax *637Law § 485-b. Respondents maintain that petitioner is not entitled to the exemption until such time as construction on the subject property is completed.

The undisputed facts show that petitioner contracted on or about February 15, 1987 with its wholly owned…