Ordered that the order and judgment is affirmed, with costs.
The Supreme Court correctly determined that the assessed value of the subject property should be $38,500, in accordance with its use as a warehouse. "Property is assessed for tax purposes according to its condition on the taxable status date, without regard to future potentialities or possibilities and may not be assessed on the basis of some use contemplated in the future" (Matter of Addis Co. v Srogi...
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