§ 4-10 Burden of Proof on Market Value and Other Facts.
RCNY § 4-10
(a)An assessment is presumed correct.
(b)Applicants must initially show substantial evidence sufficient to raise a valid and credible dispute regarding valuation before a hearing officer will proceed with a substantive review of an application.
(c)Applicants bear the burden to prove that the assessment is erroneous by a preponderance of the evidence.
(d)A complete application is the minimum evidence required for eligibility for a substantive review of an application. Facts specific to the property may be submitted in addition to the facts required by the prescribed forms.
(e)Applicants claiming that an assessment is excessive, unequal or misclassified must prove full market value, regardless of restrictions personal to the owner, according to the condition, ownership, and use of the property on the tax status date, January 5.
(f)In proving market value, applicants shall adhere to the three approaches to valuation recognized by the courts: sales, income, and cost.
(g)The Tax Commission shall review the assessment, not components of the underlying valuation formula. By itself, an error in the valuation methodology or calculations used to derive the assessment shall not establish an assessment error.
(h)Evidence of market value estimates of the Department of Finance or assessments of comparable properties shall not establish the market value of a property.
(i)Property for which an application for review of the assessment is filed shall be subject to interior and exterior inspection by a City employee.
(j)The hearing officer may cause the person who signed the application or any other person to appear, take such person's testimony under oath and require such person to produce for examination such books, records and documents upon which the application is based.
(k)Evidence to dispute the Department of Finance tax class ratio of assessment shall conform to Real Property Tax Law § 720(3) to be considered on a claim that an assessment is unequal. A representative or self-represented applicant shall provide notice at least ten days before a scheduled hearing that he or she expects to offer such evidence.
(l)The hearing officer shall consider and weigh the strength, credibility and persuasiveness of arguments and facts offered in support of an application, including the application, documents, photographs and maps, and sworn testimony on personal knowledge, along with arguments, records, or other evidence offered by the Department of Finance, records of the Tax Commission, or facts within the knowledge and experience of the hearing officer.
