People ex rel. Sebring v. Dowd

Peb Cubiam:

Relator and his wife are owners by the entirety of real property in the city of Corning, which in the year 1921 was assessed at $30,000. The assessment is attacked for overvaluation and inequality. The finding below was that the full value “ exceeded the sum of $30,000.” 1. That rather indefinite valuation may be sustained on the evidence. We do not, however, agree with statements made by the assessors and by the court below as to the proper basis of valuation for taxation. Primarily the basis.in the case of residential property should be the market value. (Matter of Daly v. Smith,…