Board of Managers of French Oaks Condominium v. Town of Amherst

Peradotto and Garni, JJ.

We respectfully dissent because, in our view, the conclusion of petitioner’s appraiser with respect to his capitalization rate is legally and factually flawed, and each flaw is independently fatal to petitioner’s case. We thus conclude that petitioner failed to meet its ultimate burden of establishing that the subject property is overvalued, and we would therefore adopt the value set forth in respondents’ trial appraisal and modify the order accordingly (see Matter of Thomas v Davis, 96 AD3d 1412, 1414 [2012]).

The legal flaw underlying the capitalization rate analysis…