Nostra Realty Corp. v. Tax Commission

Appeal from a final order of the Supreme Court, New York County (Mangan, J.), entered December 2, 1980, which confirmed assessments for the tax years 1970/1971 to 1975/1976 and raised assessments for the tax years 1976/1977 to 1978/1979, held in abeyance, and matter remanded for a finding pursuant to subdivision 2 of section 720 of the Real Property Tax Law, without costs. In this tax certiorari proceeding, the two appraisers used different methods in arriving at the value of the property. Petitioner’s appraiser used the capitalization method in valuing the property from $650,000 (1970/1971)…