Respondent Tax Commission's withdrawal of the Notice of Offer and Acceptance, following an audit that revealed that the reduction of the tax assessment value was based on a faulty estimate of the property's potential rental income, was rational. The language of the offer and the governing rules permitted the withdrawal of an offer for any reason prior to the Tax Commission's approval of the offer (see 21 RCNY 4-12[k][1]). The Tax Commission also rationally concluded...
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