New York Supreme Court Reverses Decision on Tax Classification of Taxpayer’s Property

The New York Supreme Court reversed and annulled the Department of Finance for the City of New York’s decision, regarding the tax classification of taxpayer’s property. Taxpayer filed a petition against the Department’s misclassification of their 18 West 75th Street property for tax year 2018. The court found that the Department of Finance was arbitrary in classifying the property as a Tax Class 2, Sub-Class 2B property for fiscal year 2018 when it should have been classified as a Tax Class 1 property based on its condition as a single-family dwelling on the January 5, 2017 taxable status date. The ...