Majority
— Order and judgment unanimously affirmed, with costs. Memorandum: The record supports the determination of the trial court in its reduction of the assessment (see Matter of Pepsi-Cola Co. v Tax Comm., 19 AD2d 56 , 61). Whether the actual rent charged by the bank to itself for its own occupancy is a reliable index of full value and economic rent was a question of fact for the trial court to resolve (see Matter of Henry Distr. Corp. v Srogi, 91 AD2d 818 ; see, also, Matter of Merrick Holding Corp. v Board of Assessors, 45 NY2d 538 ). The capitalization rates adopted by the trial court are supported by evidence and within the range of 'testimony (see Matter of Schoeneck v City of Syracuse, 93 AD2d 988 ). The city’s argument that the rates used by the trial court cannot be reconciled with our decision in Matter of Marine Midland Props. Corp. v Srogi ( 91 AD2d 824 ) is without merit. Obviously, “circumstances of particular cases may result in the application of varying capitalization rates” (Matter of Commercial Structures v City of Syracuse, 91 AD2d 1197 , 1198). (Appeal from order and judgment of Supreme Court, Onondaga County, Murphy, J. — Real Property Tax Law, art 7.) Present — Dillon, P.J., Boomer, Green, Moule and Schnepp, JJ.
Cases cited
- Pepsi-Cola Co. v. Tax Commission 19 AD2d 56 at 61 p. 1140
- Merrick Holding Corp. v. Board of Assessors 45 NY2d 538 p. 1140
- Schoeneck v. City of Syracuse 93 AD2d 988 p. 1140