52nd Street Designee Corp. v. Tax Appeals Tribunal

Proceeding pursuant to CPLR article 78 (initiated in this Court pursuant to Tax Law § 2016) to review a determination of respondent Tax Appeals Tribunal which denied petitioners’ applications for a refund of real property transfer gains tax imposed pursuant to Tax Law former article 31-B.

Petitioners owned real property that was taken by the State through its power of eminent domain. Petitioners do not dispute that they received full market value for their respec*759tive properties but objected to the imposition of the transfer gains tax which was applied to transfers of real property where the…