Highbridge Broadway, LLC v. Assessor of the City of Schenectady

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Petitioner applied for the partial ten-year exemption for certain improvements made to real property - known as the business investment exemption - in 2008. After the city assessor valued Petitioner’s property, Petitioner challenged the assessed value of the property and the amount of the exemption. Supreme Court granted summary judgment to Petitioner on the amount of the exemption and recalculated the exemption for years 2008 through 2014. Supreme Court ordered the Schenectady City School District to issue refunds of any excess taxes it collected during the 2009 through 2014 calendar years due to the prior incorrect calculation of Petitioner’s exemption. The Appellate Division modified by reversing the portion of the order directing the School District to issue refunds for the 2009 through 2011 assessment rolls, concluding that unless Petitioner filed annual challenges to the assessment while the initial 2008 petition was pending, Petitioner failed to preserve its challenge. The Court of Appeals reversed, holding that there is no requirement that a taxpayer who challenges the amount of the business investment exemption file annual petitions while the initial petition is pending in order to compel compliance with a resulting court order. View "Highbridge Broadway, LLC v. Assessor of the City of Schenectady" on Justia Law

Posted in: Tax Law

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