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Mobil Oil Corp. v. Tax Commission
Evidence of an arm’s length sale, "if unexplained, was evidence of the highest rank to determine the true value of the property as of that time” (Matter of Woolworth Co. v Tax Comm, of City of N. Y, 20 NY2d 561, 565 [emphasis in original]; see Matter of Atlas Realty Inv. v Lennox, 38 AD2d 739 , affd 34 NY2d 780 ).
Retrieving the full opinion text from the archive…
In the Matter of Sol G. Atlas Realty Investment
v.
Joseph J. Lennox, Constituting the Board of Review of the City of Yonkers, (And Two Other Proceedings.)
v.
Joseph J. Lennox, Constituting the Board of Review of the City of Yonkers, (And Two Other Proceedings.)
New York Court of Appeals.
Jun 5, 1974.
315 N.E.2d 813
Frederick J. Martin and Robert D. Meade for appellants., Eugene J. Fox, Corporation Counsel (George P. Forbes, Jr. of counsel), for respondents.
Cited by 7 opinions | Published
Order affirmed, with costs, on the memorandum at the Appellate Division.
Concur: Chief Judge Breitel and Judges Jasen, Gabrielli, Jones and Stevens. Taking no part: Judges Wachtler and Rabin.