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NYC v. TAX APPEALS TRIBUNAL

231 A.D.2d 267 (1997)

660 N.Y.S.2d 753

In the Matter of City of New York, Petitioner, v. New York State Tax Appeals Tribunal et al., Respondents

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

July 24, 1997

Attorney(s) appearing for the Case

Paul A. Crotty, Corporation Counsel of New York City (Robert J. Firestone, Edward F. X. Hart and Frances J. Henn of counsel), for petitioner.

Isidor D. Friedenberg, Suffern, for 11814 Homes Corporation and others, respondents.

MIKOLL, J. P., CREW III, WHITE and YESAWICH JR., JJ., concur.

PETERS, J.

The sole issue in this proceeding is whether a mortgage recording tax is due on the recordation of a mortgage under which a mortgagor borrows additional funds to reduce the amount owed to a prior mortgagee yet does not increase or add to his indebtedness and further preserves the prior lien on the recordation of the new mortgage.

Respondents 11814 Homes Corporation (hereinafter Homes), Rockingham...

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