Archive | Valuation

Matter of City of New York (Staten Island Land Corp.)

The Supreme Court, Richmond County (Hon. Wayne P. Saitta) recently issued a decision valuing wetlands located in Stated Island that were acquired as part of the New Creek Bluebelt Phase 3 project. The case is Matter of City of New York (New Creek Phase 3), Sup. Ct., Richmond Cty, Hon. Wayne P. Saitta, Index No., 4013/06. The property at issue was acquired by the City on November 3, 2006. The total area taken was 45,208 square feet, which included a non-contiguous lot (lot 14) of approximately 5,203 feet.The property was… read more

Posted in Eminent Domain, New York, Offer & Compensation, Valuation, Wetlands
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Lost Tree Village Corporation v United States

For those readers not familiar with the concept, the implementation of a wetlands regulation can constitute a regulatory taking and require that just compensation be paid pursuant to the Fifth Amendment. Wetlands cases can be complex, but generally fall into a few categories for analysis. . The first type is analyzed under Penn Central Transportation Co v New York City, 438 US 104 (1978). The Penn Central case utilized a three factor test to determine whether a regulation goes “too far” (meaning it would be considered a taking under the… read more

Posted in Recent cases, Valuation, Wetlands
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New York’s Tax Cap Statute and Recent Tax Certiorari, Eminent Domain and Exemption Cases

The Hon. Thomas A. Dickerson and John Mechman, Esq. have authored an excellent article published in the Westchester Bar Journal titled “New York’s Tax Cap Statute and Recent Tax Certiorari, Eminent Domain, and Exemption Cases. The article provides a synopsis of interesting and relevant cases decided in the 2014 calendar year by New York Supreme Courts and is available by clicking here. The first topic addressed in the article is New York’s tax cap statute, which was signed into law by Governor Cuomo on June 30, 2011. The statute provides… read more

Posted in New York, Recent cases, Tax Certiorari, Valuation
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The Constitution Pipeline & Partial Takings

For those of you not in the New York area, the Constitution pipeline is a proposed project to build  a  124-mile transmission pipeline connecting natural gas supplies in northern Pennsylvania with major northeastern markets. The pipeline is designed with the capacity to transport 650,000 dekatherms of natural gas per day (which is enough to serve 3 million homes, according to the Constitution Pipeline website.) The pipeline itself is 30 inches wide and will extend from Susquehanna County, Pa. to Schoharie County, New York. Construction is expected to begin this summer…. read more

Posted in Constitution Pipeline, Energy Companies, New York, Partial Takings, Published Articles, Valuation
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Michael Rikon Spoke at the New York State Judicial Institute on April 7, 2015

Below is a part of the paper presented.   New York State Judicial Institute April 7, 2015 By Michael Rikon[1] VALUATION OF PROPERTY Real property value is very dependent on the factual circumstances presented.  It is also dependent on the reason for the need to value the property. The same property may be valued differently as of the same date depending on whether the subject property was taken in an eminent domain proceeding, or, it’s assessed value is questioned in a tax certiorari proceeding.  The value of real property may… read more

Posted in Highest and Best Use, Speaking Appearances, Valuation
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