Stanford Associates is the owner of a shopping center in the Town of Niskayuna, County of Schenectady. The assessed valuation of its property for the year 1971 was in the sum of $2,076,000 which was reduced, after protest on grievance day to $1,238,000. On July 29, 1971 Stanford Associates initiated a proceeding under article 7 of the Real Property Tax Law to review the said assessment, which proceeding was returnable at Special Term on September 7, 1971. The intervenor-respondent is a central school district which includes portions of the Towns of Colonie and Guilderland, Albany County, and the Town of Niskayuna, Schenectady County, within which is located the property owned by Stanford Associates. It is conceded that the intervenor-respondent received proper notice of the proceeding pursuant to section 708 of the Real Property Tax Law, which notice was presented to the school district board at a regular meeting held on August 17, 1971. The school board thereupon wrote a letter dated August 18, 1971 to the Board of Assessors requesting that "the Town of Niskayuna will fight this reduction with every source at your command". On August 18, 1971 the proceeding was settled and compromised on written stipulation and an order entered which resulted in a reduction in Stanford Associates' assessment of the sum of $563,125. On August 25, 1971 the school district moved by order to show cause to intervene as a party in the proceeding and to set aside the stipulation and order of compromise and settlement. Special Term granted the motion by order dated October 15, 1971. Appellants contend that the school district was not entitled to intervene and that the order based upon the stipulation is binding on the school district. Pursuant to CPLR 1012 (subd. [a]), a person shall, upon timely motion, be permitted to intervene when the representation of the person's interest by the parties is or may be inadequate and the person is or may be bound by the judgment. Here, the motion was made promptly after knowledge of the order of compromise and settlement, and prior to the return day of the proceeding to review the assessment. In Matter of Teleprompter Manhattan Catv Corp. v. State Bd. of Equalization & Assessment (34 A.D.2d 1033-1034)
Order affirmed, with costs.