Piazza v. Town Assessor

Order unanimously reversed, without costs of this appeal to either party, and a new trial granted. Memorandum: The finding of the trial court that petitioner’s hospital building had depreciated $399,088.80 in value (45% of its reproduction cost) as a result of functional obsolescence is against the weight of the evidence. “ Functional obsolescence is loss of value brought about by failure or inability to deliver full service. It includes * * * any loss of value by reason of short-comings or undesirable features contained within the property itself.” (Assessors Manual, issued, 1957, by State…