MATTER OF METRO. LIFE INS. CO. v. TAX COMM'N OF THE CITY OF NEW YORK


53 N.Y.2d 1050 (1981)

In the Matter of Metropolitan Life Insurance Company, Appellant, v. Tax Commission of the City of New York et al., Respondents.

Court of Appeals of the State of New York.

Decided June 11, 1981.


Attorney(s) appearing for the Case

Sol Pottish for appellant.

Allen G. Schwartz, Corporation Counsel (Stanley Buchsbaum and Edith I. Spivack of counsel), for respondents.

Chief Judge COOKE and Judges JASEN, GABRIELLI, JONES, WACHTLER, FUCHSBERG and MEYER concur.


MEMORANDUM.

The order of the Appellate Division, First Department, should be reversed, with costs, and the proceeding remitted to that court for determination of the facts.

"The determination of market value essentially is a question of fact" (Grant v Srogi, 52 N.Y.2d 496, 510). Similarly, the subsidiary question of whether capitalization of net income premised upon a single...

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