New York Court of Appeals
In the Matter of Merrick Holding Corp. v. Board of Assessors of the County of Nassau
November 2, 197845 N.Y.2d 538
Summary
The New York Court of Appeals held that the Nassau County Board of Assessors may lawfully add leasehold bonuses to rental income when using the income capitalization method to assess a shopping center, reversed the Appellate Division’s reversal of the Special Term’s judgment, and remanded the case for further fact-finding on offsetting rents.