Albee Fuel Corp. v. Gallman

This is a proceeding pursuant to CPLR article 78 (transferred to the Appellate Division of the Supreme Court in the Third Judicial Department by order of the Supreme Court at Special Term, entered in Albany County), to review a determination of the State Tax Commission which sustained a mortgage recording tax imposed under section 253 of the Tax Law.

We are asked for the first time to determine whether an assignment of rents given as security constitutes a mortgage as defined in section 250 of the Tax Law, so as to be subject to a tax under section 253 upon recordation1 Petitioner is the owner…