N.Y. Real Property Tax Law § 589: Change in allocation factor

§ 589. Change in allocation factor. 1. At any time after the

allocation factor is initially certified to the assessing unit, upon the

request of the city or the owner of the parcel burdened by the easement,

the commissioner may compute and certify a new allocation factor based

on a change in circumstances. A request for a review of the allocation

factor shall be made by submitting to the commissioner (a) a written

request by the landowner, (b) a written request by the city setting

forth the claimed change in circumstances, (c) a written stipulation

entered into by the city and the landowner setting forth the new

allocation factor, or (d) an appraisal or appraisals performed by a

licensed real estate appraiser within one year of submission setting

forth the current fair market value of the easement and the current fair

market value of the land subject to the easement exclusive of

improvements and unencumbered by the easement. The commissioner shall

define the changes in circumstances required to change the allocation

factor. The party seeking the change in allocation factor shall provide

copies of the appraisals and written request to the other party.

2. If one party objects to a change in the allocation factor, the

party may submit the appraisals specified in subdivision one of this

section within ninety days of receipt of the other parties' appraisal or

written request.

3. The commissioner shall review the materials submitted and issue a

current allocation factor determined by the materials submitted.

4. If judicial review is sought to challenge a determination under

this section, the action shall be commenced in the county in which the

real property is located.