The People of the State of New York Ex Rel. Jamaica Water Supply Company, Respondent v. the State Board of Tax…

Summary

The New York Court of Appeals held that in certiorari proceedings under the Tax Law the court may take additional evidence and re‑value a special franchise, that the net earnings rule is not mandatory but may be applied with appropriate adjustments, and that the assessment may be reduced to achieve equality with other property assessments; it reversed the Appellate Division and remanded the case to the Special Term for further proceedings.