MATTER OF TROY REALTY ASSOCS., INC. v. BD. OF ASSESSORS OF THE CITY OF TROY


227 A.D.2d 813 (1996)

642 N.Y.S.2d 734

In the Matter of Troy Realty Associates, Inc., et al., Respondents, v. Board of Assessors of the City of Troy et al., Appellants. (And Another Related Proceeding.)

Appellate Division of the Supreme Court of the State of New York, Third Department.

May 16, 1996


Cardona, P. J.

Petitioners are the owners of an apartment complex located in the City of Troy, Rensselaer County. They commenced the instant proceedings to challenge the tax assessment on the property for the 1992-1993 and 1993-1994 tax years. The property consists of approximately 5.33 acres of land with eight two-story apartment buildings containing a total of 124 apartment units. Respondents assessed the property in 1992 at

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