G.R.F., Inc. v. Board of Assessors of Nassau

Chief Judge Breitel.

In a tax certiorari proceeding, petitioner G.R.F., Inc., owner of Gimbel’s department store in the Roosevelt Field Regional Shopping Center, seeks a reduction in the assessment of the land and building owned by it. Supreme Court granted the reduction, in part; the Appellate Division affirmed; and the Nassau County Board of Assessors appeals.

There should be an affirmance. The trial court, in reducing the assessments, rejected both the value arrived at by petitioner, using exclusively a capitalization of income approach, and the value urged by the Board of Assessors, using a…