*1 Petitioners commenced these special proceedings, pursuant to Article 7 of the Real Property Tax Law (“RPTL”), seeking to reduce the assessments of twelve (12) real properties located in the City of Buffalo, New York, one of which includes the real located at 121 Park Street, owned by Petitioner, John P. Higgins (the Property”).*2
On March 22, 2018, the Court conducted a non-jury valuation trial, which was limited to the Property.The following constitutes the Court’s Decision and Order, as required by CPLR 4213(b) and Real Property Tax Law (“RPTL”) §720(2).THE APPRAISALSDarrell R. Lloyd, Jr., of IREM Solutions, prepared the appraisal report submitted by Petitioner (the “Lloyd Appraisal”), and Stephen M. Maraszek, of GAR Associates, LLC, prepared the appraisal report submitted by Respondents (the “Maraszek Appraisal”). Both appraisers valued the Property for the 2009 proceeding, as of December 1, 2008, and for the 2010 proceeding, as of December 1, 2009, pursuant to RPTL §302(1). Lloyd appraised the Property utilizing the sales comparison and income capitalization approaches. Maraszek utilized the sales comparison approach. Neither appraiser valued the Property according to the cost approach.THE PROPERTY’S SALIENT FEATURESThe appraisers agree that the Property consists of an approximate 0.08 acre site improved with a multi-family home, consisting of approximately 3,626 square feet (above grade), with a stone block basement (the “Home”). Lloyd describes the Home as containing 2.5 stories, while Maraszek describes it as containing three stories. According to Lloyd, the Home was constructed in approximately 1900. According to Maraszek, it was constructed in 1907 or 1908. While the Lloyd Appraisal states that the Home contains fourteen (14) rooms, the Maraszek Appraisal states that it contains twelve (12) rooms.The Court is not aware as to how either appraiser is able to comment on, and confirm the number of rooms, given that they were precluded from inspecting the Home’s interior (see, Matter of Aylward v. Assessor, City of Buffalo, 125 AD3d 1344 [4th Dept 2015]). Nor does the Court, as the trier of fact, have any means of confirming the actual number of rooms.
