On February 19th, 2013, the New York State Teacher’s Union (NYSUT) made good on its threat to challenge Cuomo’s property tax cap on schools by commencing an action in Supreme Court. The lawsuit, spearheaded by a plaintiffs group composed of teachers, taxpayers, and even parents, alleges in a 50-page complaint how Cumo’s tax cap harms school districts that serve low-income areas (creates… Continue Reading
Category Archives: Valuation
Subscribe to Valuation RSS FeedThe Impact of Environmental Contamination on Assessed Value
Posted in Assessments, ValuationProperty owners should be aware of the impact that contamination plays in assessing the value of their property for tax purposes. It is frequently the case that assessed value does not take contamination into account. For this reason, owners whose land suffers from contamination may well be entitled to an assessment reduction. The New York State Constitution… Continue Reading
Weight vs. Sufficency: What’s Required of Appriaser under 202.59 Comes Under Attack
Posted in Assessments, ValuationIf you are anything like me, you miss the ORPTS Reporter and the days when you’d see lengthy decisions from Hons. Thomas A. Dickerson and John R. LaCava that methodically and meticulously reviewed various portions of the Real Property Tax Law (“RPTL”). So, I get a little excited when the Appellate Division hands down a 9-page decision… Continue Reading
Op Ed from Syracuse’s Mayor, Stephanie Minor, Hints That RPTL Reform Is Needed
Posted in Assessments, Assessors, Exemptions, School Districts, ValuationA recent New York Time’s Op Ed post on February 13, 2013 from City of Syracuse Mayor, Stephanie Minor, states that “the model of using property taxes to finance schools, police, fire, sanitation and other services is no longer sustainable.” For years, we have heard from assessors, attorneys and appraisers heavily involved in assessment litigation that NYS needs to find another way… Continue Reading
Fiber Optic Cables Are Not Taxable Real Property
Posted in Assessments, Utilities, ValuationAs discussed in our prior post, cows might be considered assessable or taxable real property under Section 102(12) of the Real Property Tax Law. See RCN v. Frankel, (1st Dept. 2012). However, fiber optic cables are not assessable real property under the same statute. At least that is what the First Department concluded in RCN NY Communications, LLC v. Tax… Continue Reading
The Legal Definiton of Real Property – Is The Law Evolving At The Same Rate As Technology?
Posted in Assessments, Exemptions, Utilities, ValuationAre cows assessable real property under RPTL 102(12)(f)? Sounds ridiculous, but a recent ruling by the First Department could result in the answer to this question being “yes.” In November, the First Department analyzed the scope of “power generating apparatus” under RPTL 102(12)(f) in RCN Telecom Services of New York, LP v. Frankel (2012 NY Slip Op 07890, 1st Dept. November… Continue Reading
What’s wrong with Real Property Tax Law Section 727?
Posted in Assessments, Settlement, ValuationReal Property Tax Law Section 727 - the ”freeze” period after a property assessment appeal is settled or a judicial decision is issued that reduces the assessment. The goal of Section 727 is two-fold: first, it prevents assessors from changing an assessment (more likely, increasing an assessment) during the term of the freeze unless there is a revaluation, improvements/demolition, or occupancy changes in excess of 25%,… Continue Reading
Trimming the Tree of Knowledge: New York’s Reduction in Assessor Education Requirements
Posted in Assessors, ValuationDespite the objection of the New York State Assessor’s Association and many assessors across New York State, New York’s Department of Taxation and Finance (“DTF”) recently adopted a rule that reduced by half the number of required continuing education credit hours for assessors and county directors from 24 to 12 a year. See 9 NYCRR 188-2.8. The rule went into effect on… Continue Reading
Property Tax Assessment Appeals: On The Rise Everywhere
Posted in Assessments, ValuationProperty owners across the nation are not sitting idly by any more. It appears more and more individuals and corporations have noticed that waiting for the government to fix their property tax issues is not going to get the job done when all seem to be suffering financially. To that end, a recent Chicago Tribune article about the large… Continue Reading
School Districts Lack Standing to Challenge Assessed Valuation
Posted in Assessments, Exemptions, School Districts, ValuationNew York’s Real Property Tax Law (“RPTL”) provides that “[f]or the purpose of the levy and collection of school taxes, the valuations of real property shall be ascertained from the latest final assessment roll of the city or town.” What if a school district is unhappy with the valuations of real property established by the city or… Continue Reading