Consolidated Edison Co. v. City of New York

J. (dissenting and voting to reverse the judgment appealed from and to remit the matter to the Supreme Court, Richmond County, for a new determination based upon reproduction costs new less proper adjustments, with the following *919memorandum, in which Luciano, J., concurs). As noted by the majority, the property in issue—an electric generating plant— should be valued as a specialty property based upon reproduction-cost-new-less-depreciation (see Matter of Brooklyn Union Gas Co. v State Bd. of Equalization & Assessment, 65 NY2d 472, 488 [1985]; Matter of Long Is. Light. Co. v Assessor for Town…