People ex rel. Queens County Water Co. v. State Board of Tax Commissioners
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, the State Board of Tax Commissioners, and The City of New York, intervenor, from an order of the Supreme Court, made at the Albany Special Term and entered in the office of the clerk of the county of Albany on the 18th day of June, 1912, reducing special franchise taxes assessed against the relator for the year 1905.
1Opinion of the Court
Kellogg, J.:
The State Board of Tax Commissioners assessed the relator’s special franchise at $190,000. The Special Term found that the tangible property in the street was worth $125,190.67, and that the intangible part of the franchise was without value. Equalizing the assessment with that of other property in the tax district, which is assessed at only about sixty per cent of its value, made it $75,114.40. The court finds the reproductive cost of the tangible property $711,422.75, and that the actual net earnings of the previous year were $31,732.98, which did not give a fair return upon…
2Cited by1 opinion
- People Ex. Rel. Buffalo & Lake Erie Traction Co. v. State Board of Tax CommissionersNew York Court of Appeals · 1913