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MATTER OF CITY OF NEW YORK v. TULLY

55 N.Y.2d 960 (1982)

In the Matter of the City of New York, Respondent, v. James H. Tully et al., Constituting the State Tax Commission, Respondents, and 77 West 55th Street Associates, Appellant.

Court of Appeals of the State of New York.

Decided February 16, 1982.

Attorney(s) appearing for the Case

Martin B. Cowan and Wayne R. Lehrhaupt for appellant.

Frederick A. O. Schwarz, Jr., Corporation Counsel (Arnold Fox and Gale Zareko of counsel), for City of New York, respondent.

Robert Abrams, Attorney-General (Francis V. Dow and Shirley Adelson Siegel of counsel), for State Tax Commission, respondent.

Chief Judge COOKE and Judges GABRIELLI, JONES, WACHTLER, FUCHSBERG and MEYER concur in a memorandum; Judge JASEN taking no part.

MEMORANDUM.

The judgment of the Appellate Division should be reversed, with costs, and the determination of the State Tax Commission is reinstated.

We find no error in the determination of the State Tax Commission that the mortgage agreement in question was a supplemental mortgage within the purview of section 255 of the Tax Law and did not create a new or further indebtedness or obligation. The commission found that...

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