Recent Court Decision Tackles Valuation of Land Containing Mineral Resources | Tax Assessment & Condemnation Report

The New York State Appellate Division, Second Department recently addressed the appropriate valuation methodology for land with established mineral deposits In the Matter of Metropolitan Transportation Authority (Washed Aggregate Resources, Inc.), 2013 NY Slip Op 00212 (January 16, 2013).

While recognizing “enhancement value” attributed to the presence of mineral resources, the Court failed to compensate owners of permitted mining operations for profits lost as a result of the taking of land containing mineral resources.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s