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...
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