In re Third I. C. M. Realty Co. v. Town of Camillus

—Order insofar as appealed from unanimously reversed on the law without costs and matter remitted to Supreme Court for further proceedings, in accordance with the following Memorandum: In determining the net income produced by the property in the specified tax years, the Judicial Hearing Officer erred by deducting the actual costs of certain long-term improvements in full in the year they were paid rather than amortizing those costs over the useful life of the improvements (see, Matter of Food Fair v Board of Assessment Review, 78 AD2d 335, 337; American Institute of Real Estate Appraisers,…