Properties Must Be Assessed as Rent-Stabilized Buildings

June 30, 1993

LVT Number: 8041

Landlord challenged the Village of Lynbrook's real estate tax assessment of two residential condominium buildings. The Nassau County court ruled that, by law, the buildings must be assessed no higher than equivalent rent-stabilized rental buildings. The Village appealed, and the appeals court ruled for landlord. Real Property Tax Law section 581 states that condominium buildings must be assessed at amounts no greater than rental buildings. Lynbrook adopted rent stabilization in 1975, so all buildings with six or more apartments in the village were rent-stabilized.

Landlord challenged the Village of Lynbrook's real estate tax assessment of two residential condominium buildings. The Nassau County court ruled that, by law, the buildings must be assessed no higher than equivalent rent-stabilized rental buildings. The Village appealed, and the appeals court ruled for landlord. Real Property Tax Law section 581 states that condominium buildings must be assessed at amounts no greater than rental buildings. Lynbrook adopted rent stabilization in 1975, so all buildings with six or more apartments in the village were rent-stabilized. So, the large condominium buildings must be assessed like rent-stabilized buildings.

Matter of Greentree at Lynbrook Condominium No. 1 v. The Board of Assessors: NYLJ, p. 24, col. 5 (6/16/93) (Ct. App.; Kaye, CJ, Simons, Titone, Hancock, Bellacosa, Smith, JJ)

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