Ninos v. Board of Assessors of Cazenovia

In this tax certiorari proceeding, petitioner sought to have assessments on his home for the tax years 1982 and 1983 reduced to $120,000. Respondents had assessed the property at $200,000. The parties’ appraisers agreed that residential use was the highest and best use of the property. Petitioner’s expert, relying on the market data approach, concluded that the fair market value was $120,000. Respondents’ expert, also employing the market approach and utilizing the reproduction costs technique as a check, found the property to be worth $175,000. The Judicial Hearing Officer, without stating…