We often observe condemnors attempting to use tax assessment records or real estate tax reduction applications to influence a court’s award of just compensation. It is well-established that tax assessment values bear no resemblance to fair market value and are never relevant in a condemnation case. In a condemnation proceeding, the subject property must be valued at its highest and best use regardless of actual use. Matter of City of New York (Clearview Expressway), 9 NY2d 439 (1961). The valuation of the subject property is set forth in the parties’… read more
March 16, 2016