Sear, Roebuck & Co. v. Assessor of City of White Plains, 66 A.D.2d 777 (2d Dep’t 1978)
Tax Certiorari & Condemnation – Appellate Practice – User Owned Building Valued By Rental Value, Not Cost
The valuation technique used by Tax Certiorari & Condemnation lawyers is the key to success or failure of their cases. Here, Stephen Davis successfully obtained a tax assessment reduction for property owned by the user department store permitted by capitalizing rental value. He did so through the use of expert testimony on rental values, rather than employing a cumbersome reconstruction cost methodology that would have likely resulted in a higher valuation for the client’s property. Steve then won on the appeal.