W.O.R.C. Realty Corp. v. Board of Assessors
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Dickerson, J.
Introduction
In this consolidated Real Property Tax Law article 7 proceeding, this Court must determine, among other things, the proper method by which to value certain real property. Specifically, we are asked to determine whether the trial court erred in adopting an “income capitalization” methodology rather than a “comparable sales” or market approach upon concluding that the subject property functions more akin to a cooperative corporation than a homeowners’ association.
The Property and the Club
The subject property consists of approximately 239 acres of…
2Cases cited28 opinions
- W. T. Grant Co. v. SrogiNew York Court of Appeals · 1981
- People Ex Rel. MacCracken v. MillerNew York Court of Appeals · 1943
- FMC Corp. v. UnmackNew York Court of Appeals · 1998
- Allied Corp. v. Town of CamillusNew York Court of Appeals · 1992
- Heiman v. BishopNew York Court of Appeals · 1936
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3Cited by7 opinions
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- Matter of Traditional Links, LLC v. Board of Assessors of the Town of RiverheadAppellate Division of the Supreme Court of the State of New York · 2024
- Matter of Zhonghui Chen v. Department of Assessment of the County of NassauAppellate Division of the Supreme Court of the State of New York · 2025
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