Legal Opinion
City of New York v. New York State Tax Appeals Tribunal
Appellate Division of the Supreme Court of the State of New York
Decided July 24, 1997Published
1Opinion of the Court
OPINION OF THE COURT
Peters, J.
The sole issue in this proceeding is whether a mortgage recording tax is due on the recordation of a mortgage under which a mortgagor borrows additional funds to reduce the amount owed to a prior mortgagee yet does not increase or add to his indebtedness and further preserves the prior lien on the recordation of the new mortgage.
Respondents 11814 Homes Corporation (hereinafter Homes), Rockingham Tenants Corporation and Sherry Plaza Apartment Corporation are cooperative housing corporations. The facts relevant in the Homes transaction serve as an example of all…
2Cases cited6 opinions
- 1605 Book Center, Inc. v. Tax Appeals TribunalNew York Court of Appeals · 1994
- Spartalis v. State Board for Professional Medical ConductAppellate Division of the Supreme Court of the State of New York · 1994
- Bay View Towers Apartments, Inc. v. State Tax CommissionNew York Court of Appeals · 1976
- City of New York v. ProcaccinoAppellate Division of the Supreme Court of the State of New York · 1975
- Fifth Avenue & 46th Street Corp. v. BragaliniAppellate Division of the Supreme Court of the State of New York · 1957
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