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FMC Corp. (Peroxygen Chemicals Division) v. Unmack
Citations: 242 A.D.2d 904; 662 N.Y.S.2d 907; 1997 N.Y. App. Div. LEXIS 10464
Court: Appellate Division of the Supreme Court of the State of New York; September 30, 1997; New York; State Appellate Court
Judgment was unanimously reversed, and the petitions were dismissed without costs. The petitioner challenged the respondents’ property assessments for the 1992 to 1994 tax years under article 7 of the Real Property Tax Law, concerning an industrial complex used as a chemical manufacturing plant since the mid-1920s. The petitioner presented a market appraisal based on sales of seven comparable industrial properties in western New York, Pennsylvania, and New Jersey, leading the Supreme Court to reduce the assessments. However, the appellate court found that the tax assessments are presumptively valid, placing the burden on the petitioner to prove the property was overvalued with substantial evidence. The court concluded that the petitioner did not satisfy this burden. The petitioner’s market value appraisal inadequately considered the unique characteristics of the subject property and failed to demonstrate that the comparable properties used were sufficiently similar. Additionally, the alternative cost-based appraisal was deemed insufficient as it did not account for the entire complex in calculating reproduction costs and failed to adequately assess depreciation. Since the petitioner did not overcome the presumption of validity of the respondents’ assessments, this presumption stands, negating the need to evaluate the respondents’ appraisal. The court declined to address any remaining issues raised by the parties.