Niksus Realty LLC v. Assessor of the Town of Greenburgh

OPINION OF THE COURT

Peter P. Rosato, J.

*268Petitioner herein, as in its original application, asks the court to declare RPTL 727 inapplicable to the instant proceedings. Petitioner’s essential position on reargument is that the court, pursuant to the methodology set forth at RPTL 305 (2), must take fractional assessments into account in order to arrive at a proper assessment of real property. According to petitioner, in any given year, one must compute the so-called “equalized value” of a particular property by way of dividing that year’s assessment by the applicable equalization rate for that…