Chelsea Yacht Club
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF DUTCHESS
--------------------------------------------------------------------)(
CHELSEA YACHT CLUB,
Petitioners,
NOTICE OF APPLICATION
TO
REVIEW TAX ASSESSMENT
-against-
INDEX NO. (.0'0\1'- 5''tC7
BOARD OF ASSESSORS FOR THE TOWN OF
WAPPINGER and TOWN OF WAPPINGER,
DATE FILED:
Respondents.
--------------------------------------------------------------------)(
PLEASE TAKE NOTICE that, upon the petition of CHELSEA YACHT CLUB, verified
the 24th day of July, 2008 a copy of which is annexed, an application will be made at a Special
Term of the Supreme Court, to be held in and for the County of Dutchess, at the Courthouse.in
Poughkeepsie, New York on the 26th of September, 2008 at 9:30 a.m. o'clock in the forenoon of
that day or as soon thereafter as counsel can be heard or at such other place and time as the LA.S.
Judge shall direct for a review under Article 7 of the Real Property Tax Law, of the Assessment at
$737,600 for the year 2008-09 upon certain real property of Petitioners more fully set forth and
described in said petition, and for such other and further relief as may be just and proper in the
r'.._'"l
premises, with costs.
TOVV~J CLERK
~: '
H. Thomas, Jr., Esq.
Att eys for Petitioners
158 Orange Avenue, P.O. Box 367
Walden, New York 12586-0367
Tel. No. (845) 778-2121
P
'. :"1
Rt:CEiVED
JUL 2 9 2008
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF DUTCHESS
--------------------------------------------------------------------)(
CHELSEA YACHT CLUB,
Petitioners,
PETITION
-against-
INDEX NO.
zOoY-C;g-G7
BOARD OF ASSESSORS FOR THE TOWN OF
WAPPINGER and TOWN OF WAPPINGER,
Respondents.
--------------------------------------------------------------------)(
The Petitioners, CHELSEA YACHT CLUB, respectfully shows to this Court, upon
information and belief:
1. Petitioners is, and at all times hereinafter mentioned was a domestic corporation, and
is the owner of real property situated at Town of Wappinger, Dutchess County, New York, and
described on the assessment roll as
Tax Map No. 5956-12-947632
Assessed valuation - $200,000
Parcell
Tax Map No. 5956-12-953650
Assessed valuation- $200,000
Parcel 2
Tax Map No. 5956-12-949637
Assessed valuation - $30,000
Parcel 3
Tax Map No. 5956-12-945626
Assessed valuation - $307,600
Parcel 4
2. Respondent was, and is, authorized to assess real property and review said
assessment in the Town of Wappinger for the purpose of taxation.
3. On or before May 1, 2008 respondent prepared and completed a general assessment
roll for said Town of Wappinger in the County of Dutchess, for the year 2008-09 taxes, and
made a copy thereof and left it with the Town Clerk of the Town of Wappinger, where it might
be seen and examined by any person until the 27th day of May, 2008 and respondent thereupon
posted publicly in said tax district a notice to that effect, and further stating that on said 27th day
of May, 2008 respondent would meet at a time and place specified in said notice to review said
assessments.
4. Petitioners' real property was assessed and described on said assessment roll for the
year 2008-09 for 2008-09 taxes as stated above.
5. At the time and place specified in said notice of the meeting for respondents to
review said assessments, Petitioners appeared specifically for the purpose of objecting to the
assessment on said real property, and then and there in due form protested in relation to such
assessment of Petitioners' real property aforedescribed, and duly filed with respondent a duly
verified statement specifying the respects in which said assessment complained of was
incorrect, and such statement was duly received by respondent and filed.
6. A copy of the protest so served upon respondent is annexed hereto, and in and by said
protest, Petitioners objected to the legality, validity, justice, correctness, and fairness of said
assessment.
7. Respondent made no change in the assessed value listed above and included said
figure in the completed roll.
8. Said assessment is illegal on the following grounds set forth on the statement
attached to the complaint or protest submitted to the Board of Assessment Review annexed
hereto and referred to herein as if set forth in full.
9. Said assessment is erroneous, illegal and unjust by reason of overvaluation in that the
property of Petitioners have been assessed upon the assessment roll at the sum of $200,000 for
parcell, at the sum of $200,000 for parcel 2, at the sum of $30,000 for parcel 3, and at the sum
of $307,600 for parcel 4, which is more than the fair market value of said property and that the
amount of said overvaluation is the sum of $150,000 for parcell, is the sum of $132,800 for
parcel 2, is the sum of $10,800 for parcel 3, and is the sum of $58,000 for parcel 4.
10. Said assessment is unequal in that said assessment of the property of Petitioners has
been made at a higher proportionate valuation than the assessments of other property within said
tax district and assessed upon said assessment roll, in that, while the property of Petitioners is
assessed at over 100 percent of its full market value, the property of other owners in said tax
district and assessed upon said assessment roll is not at so high a percentage of its full market
value, the average assessment of the property within said tax district other than the property of
Petitioners being at the rate of less than 100 percent of the full market value thereof, and not at
the full market value as required by law.
11. Respondent thereafter made its final determination on all applications including that
of Petitioners; verified and certified its said determination on all applications for review of
assessments; and on or about the 151 day of July, 2008 duly made and filed in the office of the
Town Clerk of the Town of Wappinger, a correct and complete assessment roll.
12. Respondent duly gave the notice required by law by posting and publishing notice
of the completion and filing of the said assessment roll.
13. Petitioners are assessed on said assessment roll for the said property at the
valuations finally fixed and determined by respondent as above stated.
14. Petitioners are and will be aggrieved and injured by the aforesaid overvaluation and
illegal and unequal assessment as it will, by reason of the premises, be compelled to pay a much
larger portion of the taxes of said tax district based on said assessment roll than is its fair and
equal share or proportion thereof.
15. Thirty days have not elapsed since the final completion and filing of the assessment
roll.
WHEREFORE, Petitioners respectfully prays:
1. That said assessment roll be reviewed and corrected and that said assessment of
Petitioners' real property be stricken from the roll, or be reduced to a proper amount and
properly equalized with the assessments of other real property on the same roll;
2. That this court take evidence or cause same to be taken to enable Petitioners to show
the illegality, overvaluation, inequality, and error of said assessment of said real property of
Petitioners;
3. That this court grant such other and further relief as may be just as the nature of the
case requires, together with the costs and disbursements of this proceeding.
By:
LLP
T:\DOCS\ 777\918003\17T0242. WPD
ATTORNEY'S VERIFICATION
ST ATE OF NEW YORK)
COUNTY OF ORANGE)
: SS.:
I, the undersigned, am an attorney admitted to practice in the Courts of New York State,
and say that:
I am a partner in the law firm of Jacobowitz and Gubits, LLP, the attorneys of record for
petitioner. I have read the annexed Notice of Application to Review Tax Assessment and
Petition, know the contents thereof and the same are true to my knowledge, except those matters
therein which are stated to be alleged on information and belief, and as to those matters I believe
them to be true. My belief, as to those matters therein not stated upon knowledge, is based upon
the following:
Books and records of petitioner.
The reason I make this affirmation instead of petitioner is I have written authorization
from petitioner to do so pursuant to the Real Property Tax Law.
I affirm that the foregoing statements are true under penalties of perjury.
DATED:
Walden, New York
July 24, 2008.
.>>
T: \DOCS\ 777\918003\ 17T0302. WPD
N ~ oJ BOARD OF REAL PROPERTY SERv fCES RP-524 (10/02)
'9.'
"~<"
. ~'f\ if;;
COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 20 08 ~;~\-,
. ,~ \.JO_...;(;,~,
BEFORE THE BOARD OF ASSESSMENT REVIEW FOR Town of Wappmget1;.. _ ~~vO;~~'J
(city, town village clT'6'oun{~'"
. :l ~
PART ONE: GENERAL INFORMATIONr~&\~
{General information and instructions for completing this form are contained {n form RP -5 24 -Ins)
1. Name and telephone no. of owner(s)
Chelsea Yacht Club
(Joel D. Hanig, Trustee)
Dav no. (84~ 471-7177 x128
i. Mailing Address of owner(s)
P . O. Box 180
Chelsea, New York 12510
Evening no. (845) 473-8487
3. N arne, address and telephone no. of representative of owner, if representative is filing application.
(if applicable, complete Part Four on page 4.)
4. Property location
17 Front Street
Street Address
Village (if any)
Wappinger
City/Town
Dutchess
County
Beacon City School District
School District
5. Property identification (see tax bill or assessment roll)
Tax map nurriber or sectionlblockllot 5956-12-947632-0000
Type 0 f property:
Residence
Farm
Vacant land
x
Other
x
Commercial
Industrial
Description:. Vacant Lot, .202 acres used by Chelsea Yacht Club for parking
and boat storage.
Assessed value appearing on the assessment roll:
6. Land $ 200,000
Total $ 200,000
7. Property owner's estimate of current full market value of property (see Part Two on page 2) $ 50.000
2
RP-524 (10102)
P ART TWO: INFORMATION NECESSARY TO DETERMINE VALUE OF PROPERTY
(If additional explanation or documentation is necessary, please attach)
Information to support the value of property claimed in Part One, item 7 (complete one or more):
I. _ Purchase price 0 f property: ............................................................................................ $
a. Date of purchase:
b. Terms:
c. Relationship between seller and purchaser (parent-child, in-laws, siblings, etc.):
d. Personal property, if an y, incl uded in purchase price (furniture, livestock, etc.; attach list and sales
tax receipt): .
Cash __Contract
Other (explain)
2. _ Property has been recently offered for sale (attach copy of listing agreement, if any):
When and for how long:
Asking price: $
How offered:
3. '!:.- Property has been recently appraised (attach copy): When: 5/07 By Whomyaluation consul tan;
Inc~
purpose of appraisal: tor e vie w as s e s s me n t Appraised value: $ 50 · 000
4. _ Description of any buildings or improvements located on the property, including year of
construction and present condition:
5. _ Buildings have been recently remodeled, constructed or additional improvements made:
Cost $
Date Completed:
Date Started:
Complainant should submit construction cost details where available.
6. ~ Property is income producing (e.g., leased or rented), commercial or industrial property and the
complainant is prepared to prcsent detailed information about the property including rental income,
operating expenses, sales volume and income statements.
7. ~ Additional supporting documentation (check if attached).
J
RP-524 (J 0102)
PART THREE: GROUNDS FOR COMPLAINT
A. UNEQUAL ASSESSMENT (Complete items 1-4)
1. The assessment is unequal for the following reason: (check a or b)
a.~ The assessed value is at a higher percentage of value than the assessed value of other real property on the
assessment roll. .
b._ The assessed value of real property improved by a one, two or three family residence is at a higher
percentage of full (market) value than the assessed value of other residential property on the assessment
roll or at a higher percentage of full (market) value than the assessed value of all real property on the
assessment roll.
2. The complainant believes this property should be assessed at 96 % of full value based on one or more of
the following (check one or more):
a._ The latest State equalization rate for the city, town or village in which the property is located is _%.
b._ The latest residential assessment ratio established for the city, town or village in which the residential
property is located. Enter latest residential assessment ratio only if property is improved by a one, two or three
family residence %.
c._ Statement of the assessor or other local official that property has been assessed at %.
d.L Other (explain on attached sheet).
3. Value of property from Part one #7........................................................................................... $ g,g. 000
C I' . ' 000.
4. omp aInant belteves the assessment should be reduced to ........................................................ $
B. EXCESSIVE ASSESSMENT (Check one or more)
The assessment is excessive for the following reason(s):
1. L The assessed value exceeds the full value of the property.
a.Assessed value of property ................................................................................................... $ 200 ,000
b. Complainant believes that assessment should be reduced to full value of (Part one #7)........ ...... $ 50, 000
c. Attach list of parcels upon which complainant relies for objection, if applicable.
2. _ The taxable assessed value is excessive because of the denial of all or portion of a partial exemption.
a. Specify exemption (e.g., senior citizens, veterans, school tax relief[ST AR])
b. Amount of exemption claimed ........ ...... ................ ............ ............. .......... ....... ...................... $
c. Amount granted, if any:... ;'...................... ............... ........... ........... ....... ...... ........................ ..... $
d. If application for exemption was filed, attach copy of application to this complaint.
3. _ Improper calculation of transition assessment. (Applicable only in approved assessing unit which has
adopted transition assessments.)
a. Transition assessment................. .......... ................ ..... ......... ..... ..... ................... ..................... $
b. Transition assessment claimed ............. ............. ................ ...... ............. ................. ..... ........... $
c. UNLAWFUL ASSESSMENT (Check one or more)
. The assessment is unlawful for the following reason(s):
1. _ Property is wholly exempt. (Specify exemption (e.g., nonprofit organization))
2. _ Property is entirely outside the boundaries of the city, town, village, school distri:;! or special district in
which it is designated as being located.
3. _ Property has been assessed and entered on the assessment roll by a person or body without the authority to
make the entry.
4. _ Property cannot be identified from description or tax' map number on the assessment roll.
5. _ Property is special franchise property, the assessment of which exceeds the final assessment thereof as
determined by the State Board of Real Property Services. (Attach topy of State Board certificate.)
D. MISCLASSIFICA TION (Check one)
The property is misclassified for the following reason (relevant only in approved assessing unit which establish
homestead and non-homestead tax rates):
_ Class designation on the assessment roll: ...................
1._ Complainant believes class designation should be....
2. _ The assessed value is improperly allocated betw'een homestead and non-homestead real property.
Allocation of assessed value on assessment roll Claimed allocation
Homestead ........... $
Non -Homestead... $
RP -524 (10/02)
4
PART FOUR: DESIGNATION OF REPRESENTATIVE TO MAKE COMPLAlNT
I, , as complainant (or officer thereof) hereby
designate to act as my representative in any and all
proceedings before the board of assessment review of the city/town/village/county of for
purposes of reviewing the assessment of my real property as it appears on the _(year) tentative assessment roll
of such assessing unit.
Date
Signature of owner (or officer thereof)
PART FIVE: CERTIFICATION
I certifY that all statements made on this application are true and correct to be best of my knowledge and belief, and I
understand that the making of any willful false statement of material fact herein will subject me to the provisions of
the Penal Law relevant to the making and filing of false instruments. .
May 27, 2008
Date
P ART SIX: STIPULA T
The complainant (or complainant's representative) and assessor (or assessor d ignated by a majority of the board of
assessors) whose signatures appear below stipulate that the following assessed alue is to be applied to the above
described property on the _(year) assessment roll: Land $ Total $
o (Check box if stipulation approves exemption indicated in Part Three, section B.2. or C.1.)
Complainant or representative
Assessor
Date
SPACE BELOW FOR USE OF BOARD OF ASSESSMENT REVIEW
Dis,12.2,sition
o Unequal assessment UExcessive assessment
o Unlawful assessment DMisclassification
o Ratification of stipulated assessment DNo change in assessment
Reason:
Vote on Complaint
o All concur
o All concur except:
Name
D against
D against
o abstain
o abstain
D absent
D absent
Name
Tentative assessment
Total assessment $
Transition assessment (if any) .. $
Exempt amount........................ $
Taxable assessment.................. $
Decision by
Board of Assessment Review
$
$
$
$
Claimed assessment
$
$
$
$
Class designation and allocation of assessed value (if any):
Homestead ............................. $ $
Non-homestead.... ....... ...... ,..... $ $
Date notification mailed to complainant
$
$
Additional Information for Part Three, Line A.2.d
For example, 47 Marlorville Road, which recently sold for $288,000, is assessed
at $276,000 or 95.83 percent of its recent sale price.
Comparable property utilized for similar purposes (3 Front Street, 5 Front Street
and Front Street Rear) all owned by Michael Schwall) have been assessed at
substantially lower values per square foot in the assessment roll.
CONSULTANTSi'
z n
o 0
:0
."
o
:0
~
-
<(
o
::>
~
<(
>
May 8, 2007
Mr. Will Gordon
Commodore
Chelsea Yacht Club
Chelsea, New York 12512
RE: OUR FILE NO. 0704065
GRID NUMBER 5956-12-947632-0000
17 FRONT STREET
WAPPINGERS FALLS, NEW YORK, 12590
Dear Mr. Gordon:
You have requested consultation regarding the proposed
increase in assessment on the above referenced property. The
subj ect is. a vacant lot totaling 8,790 square feet or .202,
acres. The proposed assessment is $200,000.
The subject is located within 250 feet of multiple flood
zones and is in a low lying area'and has a history of flooding.
As per the Board of Health Representative of Dutchess County,
the distance requirements between a well and septic to be placed
on the same lot. is 100 feet. For low. lying areas and flood
plains the distance is 200 feet. The site is in a R-40 Zoning
District. The setbacks are 25 feet for the sides and 50 feet for
the front and. rear. I f the site requlres. Board of Health
Approval the well for the site wbuld have .to. be relocated or
site
improvements would be .required depending
on the
2
circumstance. As a result, for this appraisal we have assumed
the site is not buildable.
We researched the Wappingers market for sales of small
parcels. The sales we did find are as follows:
A list of sales is as follows:
ADDRESS SIZE - SALES PRICE PER SQ. FT.
SQUARE FEET
o Dutchess Drive 11,761 $15,000 $1.27
Holmes, New York
2 Wessel Road 16,117 $11,000 $.69
Wappinger, New York
118 Market Street 22, .651 $135,000 $5.96
Wappingers Falls
5 Dutchess Ave.nue 4,356 $74,000 $1.70
Wappingers
Market Street 20,909 $10,000 $0.48
Wappingers
Hamilton Road 20,038 $20,000 $1. 00
Wappingers
64 Kent Road 25,265 $80,000 $3.17
Wappingers
100 Route 9 22,651 $40,000 $1.76
Wappinger
Route 9 4,356 $10,000 $2.29
Wappinger
Route 90 174,240 $95,000 $0.55
Wappingers Falls
Route 90 220,423 $110,000 $0.50
Wappinger
7 Old Towh Road 23,522 $45,000 $1.91
Beacon, New York
3
The sales range ~n value from $0.48 to $5.96 with the
maj ori ty of sales below $5.96 per square foot. Based on the
above sales we estimate a value of no more than $5.50 per square
foot or $48,345 or $50,000 (rounded).
Based on the income producing potential of the property the
indicated value via the Income & Expense Analysis is $75,000.
The two approaches indicate a range between $50,000 and
$75,000. The estimated value for the subject property is
$75,000. This is for consultation purpo~es only. If you desire
a formal appraisal, please contact us.
IJ~
Gregory
GRL:cgp
CHELSEA YACHT CLUB
Miller Parking Lot
17 Front Street
Wappingers Falls, New York
INCOME .
Winter Boat Storage Rentals
16 boats X 25 lineal ft @$30 per lineal foot
Summer Boat Storage Rentals
6 cars & trailers @$250 'per summer season
0'
j Potential Income
VACANCY & CREDIT LOSS @20%
Effective Income
EXPENSES
Real Estate Taxes
Insurance
Professional Fees
Management
MiscellaneouS
Total Expenses
\ NET OPERATING INCOME
\ CAPITALIZATION RATE
\ INDICATED VALUE
(Rounded)
$12,000 market
$1,500 market
$13,500
$2.700
.'
$0 equalized
$300 typical
$200 typical
$1,296 12%of EGI
$600 typical
.'
4
$10,800
$2,396 :
\
I
$8,404
0.1157877
$72,581
$75,000
GREGORY R. LANGER - APPRAISER'S QUALIFICATIONS
EDUCATION:
BA - Hartwick College, Oneonta, New York
Undergraduate
Newburgh Free Academy - Adult Education
Principles of Real Estate
Real Estate Law
New York State Association of Realtors
Graduate Realtors Institute - Course I
Marist College
Society ot Real Estate Appraisers
Course 101 -An Introduction to
Appraising Real Property
Pennsylvania State University
Society of Real Estate Appraisers
Course 201 -Principles of
Income Property Appraising
5
1976
1976
1977
1977
1980
1981
Dartmouth College
American Institute of Real Estate Appraisers
Capitalization Theory and Techniques
Parts II ~nd III 1982
American Institute of Real Estate Appraisers
Cas~ Studies in Real Estate Valuation
and Valuation Analysis and
Report Writing
. Tampa, Florida
American Institute of Real Estate Appraisers
Standards of Professional Practice
University of Florida
American Institute of Real Estate Appraisers
Real Estate Investment Analysis
MEMBERSHIPS AND AFFILIATIONS:
American Institute of Real Estate Appraisers
MAl Candidate
1983
1984
1985
6
State of New York -
Certified Real Estate General Appraiser - #46-43405
COURSES/SEMINARS:
Argus Seminar
1993
Appraisal Institute
Consideration of Environmental
Hazards in Real Estate Valuation
1994
Appraisal Institute
Understanding Limited Appraisals
1994
Orange County Community College
Environmental Law and
The Planning Board
1995
Appraisal Institute
New Industrial Valuation
1997
Appraisal Institute
Appraisal of Local Retail Properties
1998
Appraisal Institute
Attacking & Defending an Appraisal
In Litigation
1998
Appraisal Institute
Emerging Technologies Forum
1998
Appraisal Institute
Internet Search Strategies
1998
Appraisal Institute - Mid Hudson Chapter
Standards of Professional Appraisal
practite - Part C - Course 11430
9/2002
Appraisal Institute
Scope of Work: Expanding Your Range
of Services
10/2003
Appraisal Institute
Course 1400N.~ USPAP National Update
standards and.Ethics .for Profes~ionals
10/2003
.. .
Manfr~d Real Estate Le~rning Center, Inc.
Code #0022 - (AQlt Fair Housing,
7
Fair Lending & Environmental Issue
1/2004
Appraisal Institute
Code #2352-07 - Appraisal Consulting:
A Solution Approach for Professionals
5/2005
Appraisal Institute
Subdivision Valuation
6/2005
Appraisal Institute NY State Code #2814-07
Appraising Convenience Stores
12/2005
Appraisal Institute - NY State Code #2837-02
2006 Changes to USPAP; The Demise of Departure 3/2006
Appraisal Institute - NY State Code #2839-07
Analyzing Commercial Lease Clauses
6/2006
Appraisal Institute - NY State Code #2379-07
USPAP Update Course
9/2006
Appraisal Institute - NY State Code #3023-02
Online Valuation Resources to the NY Appraiserl1/2007
EXPERIENCE:
Valuation Consultants, Inc. 3/93 to Present
Owner and Senior Commercial Appraiser
As an owner of the company, I will review and appraise all types
of commercial appraisal reports.
H.F. Ahmanson and Company
11/86 to 2/93
Served in various positions including Senior Real Estate
Financial Analyst, Chief Appraiser of the Bowery and vice
President-Loan Officer. Responsibilities and duties included
valuation of the commercial real estate portfolio on the Eastern
Seaboard, overseeing a full staff of commercial appraisers in
the Manhattan office, portfolio valuation in the acquisition of
Bowery Savings Bank and Home Savings Bank, and northeast lending
qperations.
Eastern Savinqs Bank
10/8S.to 11/86
'. Served as an Assistant Vice President in .~ending,' as well as an
Appraiser
8
Appraisal Services Company
10/79 to 10/85
Worked as the Senior Commercial Appraiser after previously
performing residential appraisals and overseeing the residential
staff.
Sold Residential Real Estate
1976 to 1979
I have appraised all types of residential property, commercial
and industrial buildings, farms and vacant land.
I have made appraisals for financial institutions, attorneys,
major corporations, home guarantee programs, insurance companies
and others. I have worked on assignments for the following
companies:
I have had experience in court testimonials for various cases
A. GENERAL EXPERIENCE
American Business Lenders
Appraisal Management
Astoria
Bank of America
Bank of New York
Berkshire Bank
Business Lending
Chase Manhattan Bank
Citizens Bank
City of Newburgh
Community Preservation Corporation
Concorde Lending
Dormitory Authority o~ State of New York
Eastern Savings Bank
Interbay
HSBC Bank USA
Hudson United Bank
Hudson Valley Bank
Hudson Valley Federal Credit Union
Key Bank of New York
.Lakeland Bank
Lend Lease
M&T Bank
.Metbank
Mahopac National Bank.
Mid Hudson Valley Federal Credit Union
NeWburgh Central School District
New York State Office of Mental Retardation and
9
Developmental Disabilities
Orange County Trust
Putnam County Savings Bank
Provident Bank
Rhinebeck Savings Bank
Riverside Bank
Rondout Bank
SI Bank and Trust
Stanley Marks and Company, CPA
Summi t Bank.
SBU
Town of Chester
Town of Newburgh
Town of Wallkill
Trust Company of New Jersey
Ulster Savings Bank
Union Savings Bank
Union State Bank
Vanacore, DeBenedlctus, DiGiovanni and Weddell, CPA
Valley National Bank
Village of Walden
Walden Federal .
Walden Savings
Webster Bank
Wilber National Bank
B. AREAS OF APPRAISAL EXPERIENCE -'
New York State -
COUNTIES: Orange, Dutchess, Putnam, Rockland, S~llivan, and
Ulster
10
FACTUAL STATISTICAL AND REFERENCE INFORMATION
An up-to-date set of area Zoning Maps and Ordinances.
City maps showing exist~nce of underground utilities.
Maintenance of sales transactions by subdivisions and street
name, effective dates of sale and current listing.
. .
Current community statistics referring
clearance, employment, transportation
activity, and mortgage recordings.
to retail sales, bank
routes, construction
_Census Tract Maps.
Flood Plain Maps.
Wetland Maps. '
Town of Wappinger
(city, town village or county)
<1~ .
<~1~90/02)
'''',r:,'~,'<
~ V,::, v,..,
" ',4. 'f""" ",'j"
. .~,~. Po}," -~\~>
: /D~.
<',P .:,{-> ,
oJ'j Jlt,L
"1ti9 "'~'
J BOARD OF REAL PROPERTY SEl LeES
COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 2008
BEFORE THE BOARD OF ASSESSMENT REVIEW FOR
PART ONE: GENERAL INIFORMATION
(General information and instructions for completing this form are contained in form RP -52 4 -Ins)
1. Name and telephone no. of owner(s)
Chelsea Yacht Club
(JoelD. Hanig, Trustee)
Day no. (84~ 471-7177 x128
iMailing Address of owner(s)
P.O. Box 180
Chelsea, New York 12510
Evening no. (845\ 473-8487
3. Name, address and telephone no. of representative of owner, ifrepresentative is filing application.
(if applicable, complete Part Four on page 4.)
4. Property location
9 Front Street
Street Address
Village (if any)
Wappin.ger
City/Town
Dutchess
County
Beacon Citv School District
School District
5. Property identification (see tax bill or assessment roll)
Tax map number or sectionlblock/lot '5956-12-953650-0000
Type of property:
Residence
Farm
Vacant land
x
Commercial
Industrial
Other
x
Description: V~r.~nt Lot, 0.29 aClJes..used by Chelsea Yacht Club for parldng
~nrl hoat storage.
Assessed value appearing on the assessment roll:
6. Land $ 200,000
Total $ 200,000
7. Property owner's estimate of current full market value of property (see Part Two on page 2) $ 70,000
2
RP-524 (10/02)
PART TWO: INFORMATION NECESSARY TO DETERMINE VALUE OF PROPERTY
(If additional explanation or documentation is necessary, please attach)
Information to support the value of property claimed in Part One, item 7 (complete one or more):
I. _ Purchase price of property: .............................. ... ....................................... .......... .......... $
a. Date of purchase:
b. Terms:
c. Relationship between seller and purchaser (parent-child, in-laws, siblings, etc.):
d. Personal property, if any, included in purchase price (furniture, livestock, etc.; attach list and sales
tax receipt):
Cash
Contract
Other (explain)
2. _ Property has been recently offered for sale (attach copy of listing agreement, if any):
When and for how long:
Asking price: $
How offered:
3. ~ Property has been recently appraised (attach copy): When: 5/07 By Whom: Val u a ti on Consult a:
Inc.
Purpose of appra isal: tor e vi e w as S e S s me n t Appraised value: $ 7 0 · 000
4. _ Description of any buildings or improvements located on the property, including year of
construction and present condition:
5. _ Buildings have been recenlly remodeled, constructed or additional improvements made:
Cost $
Date Completed:
r Complainant should submit construction cost details where available.
~
~:
! 6. X Property is income producing (e.g., leased or rented), commercial or industrial property and the
! ;;O;;;-plainant is prepared to present detailed information about the property including rcntal income,
:\ operating expenses, sales volume and iDcome statements.
~
t
r
~ 7. !- Add iti ona I supporting documentation (check if attached).
I
I
Date Started:
3
RP-524 (10/02)
P ART THREE: GROUNDS FOR COMPLAINT
A. UNEQUAL ASSESSMENT (Complete items 1-4)
1. The assessment is unequal for the following reason: (check a or b)
a...-! The assessed value is at a higher percentage of value than the assessed value of other real property on the
assessment roll.
b._ The assessed value of real property improved by a one, two or three family residence is at a higher
percentage of full (market) value than the assessed value of other residential property on the assessment
roll or at a higher percentage of full (market) value than the assessed value of all real property on the
assessment roll.
2, The complainant believes this property should be assessed at 96 % of full value based on one or more of
the following (check one or more):
a._ The latest State equalization rate for the city, town or village in which the property is located is _%.
b._ The latest residential assessment ratio established for the city, town or village in which the residential
property is located, Enter latest residential assessment ratio only if property is improved by a one, two or three
family residence ' %.
c. Statement of the,assessor or other local official that property has been asses.sed at %.
d.-X Other (explain on attached sheet). '
3. Value of property from Part one #7......................................~.................................................... $ 70,000
4. Complainant believes the assessment should be reduced to ........................................................ $ 6'( I :GUU
B. EXCESSIVE ASSESSMENT (Check one or more)
The assessment is excessive for the following reason(s):
l.X The assessed value exceeds the full value of the property. "
a.Assessed value of property ................................................................................................... $ 2.00,000
b. Complainant believes that assessment should be reduced to full value of (Part one #7) .............. $ 'f U , U 0 0
c.Attach list of parcels upon which complainant relies for objection, if applicable.
2. _ The taxable assessed value is excessive because of the denial of all or portion of a partial exemption.
a. Specify exemption (e.g., senior citizens, veterans, school tax relief(SJ AR])
b. Amount of exemption claimed ...................... .................. ...................................................... $
c. Amount granted, if any:.......................... ........... .............;..;................................................... $
d, If application for exemp~.i.on was filed, attach copy of application to this complaint.
3. _ Improper calculation of transition assessment. (Applicable only in approved assessing unit which has
adopted transition assessments.)
a. Transition assessment.......................................:................................................................... $
b. Transition assessment claimed ..............;...,.............. ............................................................. $
C.UNLA WFUL ASSESSMENT (Check one or more)
The assessment is unlawful for the following reason(s):
1. _ Property is wholly exempt. (Specify exemption (e.g., nonprofit organization))
2. _ Property is entirely outside the boundaries of the city, town, vi lIage, school distrl::t or special district in
which it is designated as being:located.
3. _ Property has been assessed and entered on the assessment roll by a person or body without the authority to
make the entry.
4. _ Property cannot be identified from description or tax map number on the assessment roll.
5. _ Property is special franchise property, the assessment of which exceeds the final assessment thereof as
detennined by the State Board of Real Property Services. (Attach copy of State Board certificate.)
\:,'D;MISCLASSIFICA TlON (Check one)
The property is misclassified for the following reason (relevant only in approved assessing unit which establish
homestead and non-homestead tax rates):
, Class designation on the assessment roll: ...................
RP-524 (10/02)
4
PART FOUR: DESIGNATION OF REPRESENTATIVE TO MAKE COMPLAINT
I, , as complainant (or officer thereof) hereby
designate to act as my representative in any and all
proceedings before the board of assessment review of the city/townlvillage/county of for
purposes of reviewing the assessment of my real property as it appears on the _(year) tentative assessment roll
of such assessing unit.
Signature of owner (or officer thereof)
Date
PART FIVE: CERTIFICATION
I certify that all statements made on this application are true and correct to be best of my knowledge and belief, and I
understand that the making of any willful fal;e statement of material fact herein will subject me to the provisions of
the Penal Law relevant to the making and filing of false instnunents. .
Mav 27, 2008
Date
~. /.
~ ( I~ ~W
sentative)
PART SIX: STIP 0
The complainant (or complainant's representative) and assessor (or asses r designated by . rity of the board of
assessors) whose signatures appear below stipulate that the following assessed value is to be applied to the above
described property on the _(year) assessment roll: Land $ Total $
o (Check box if stipulation approves exemption indicated in Part Three, section B.2. or c.1.)
Complainant or representative
Assessor
Date
SPACE BELOW FOR USE OF BOARD OF ASSESSMENT REVIEW
Dis)!Q,sition
o Unequal assessment UExcessive assessment
D Unlawful assessment o Misclassification
o Ratification of stipulated assessmentDNo change in assessment
Reason:
Vote on Complaint
o All concur
o All concur except:
Name
o against
o against
o abstain
o abstain
o absent
o absent
Name
Tentative assessment
Total assessment $
Transition assessment (if any).. $
Exempt amount........................ $
Taxable assessment............. ..... $
Decision by
Board of Assessment Review
$
$
$
$
Class designation and allocation of assessed value (if any):
Homestead ............................. $ $
Non-homestead ....................... $ $
Date notification mailed to complainant
$
$
Additional Information for Part Three. Line A.2.d
For example, 47 MarloNille Road, which recently sold for $288,000, is assessed
at $276,000 or 95.83 percent of its recent sale price.
Comparable property utilized for similar purposes (3 Front Street, 5 Front Street
and Front Street Rear) all owned by Michael Schwall) have been assessed at
substantially lower values per square foot in the assessment roll.
1.845-568-0600
x.845-568-0699
CONSULTANTS;'
z n
o 0
;0
."
0( 0
::J ;0
:>
<(
>
o
....
m
May 8, 2007
Mr. Will Gordon
Commodore
Chelsea Yacht Club
Chelsea, New York 12512
RE; OUR FILE NO. D704063
GRID NUMBER 5956-12-953650-0000
9 FRONT STREET
WAPPINGERS FALLS, NEW YORK, 12590
Dear Mr. Gordon:
You have requested. consultation regarding the proposed
increase in assessment on the above referenced property. The
subj ect is a vacant lot totaling 13,028 square feet or.. 299
acres. The proposed assessment is $200,000.
The subject is located ~ithin 250 feet of multiple flood
zones and is in a low lying area and has a history of flooding.
As per the Board of Health ~epreientative of Dutchess County,
the distance requirements between a well and septic to be placed
on the same. lot is 100 feet.. For low lying areas and flood
plains the distance is 200 feet. The site is in a R-40 Zoning
District. The setbacks are 25 feet for the .sides and 50 feet for
the front and rear. If the site requires Board of Health
Approval the .well for tbe site. would have to b~ relocated or
.site
improvements. would be.. required depending
on the
c:~~
.,,\,~;
I
..(If
","i~'.'
.,
.'
,I
.~.
;1
:~
lJi.
,,~
..~
:~
;~
~
i
1
'4
,~,~ '
:!;"II
.~~1
.~
1
~,
"
~.'I~i.,.
"1
,il
~
~
.1.;,',..'
;.~
i:~ '
'~I'
~.~
!~
?
"~
ib
~i
it 1
[ i
;'k
t'!,t 1
~:
~~~ '
;~
,,!j
-.:,~t
':,t
'i'
''1; ,
.~
.~
;~
'!
2
circumstance. As a result, for this appraisal we have assumed
the site is not buildable.
We researched the Wappingers market for sales of small
parcels. The sales we diq find are as follows:
A list of sales is as follows:
ADDRESS SIZE - I SALES PRICE PER SQ. FT.
SQUARE FEET
o Dutchess Drive 11,761 $15,000 $1. 27
Holmes, New York
2 Wessel Road 16,117 $11,000 $.69
Wappinger, New York
118 Market Street 22,651 $135,000 $5.96
wappingers Falls
5 Dutchess Avenue " 4,356 $74,000 $1.70
Wappingers
Market Street 20,909 $10,000 $0.48
Wappingers
Hamil ton Road 20,038 $20,000 $1. 00
Wappingers
64 Kent Road 25,265 $80,000 $3.17
Wappingers
100 Route 9 22,651 $40,000 $1.76
Wappinger
Route 9 4,356 $10,000 $2.29
Wappinger
Route 90 174,240 $95,000 $0.55
Wappingers falls
Route 90 220,423 $110,000 $0.50
Wappinger
7 Old Town Road 23;522 $45,000 $1. 91 '
Beacon, New York
3
~l
,
i'
~~
r
~
t
i
J
i,
.~ f
,;;~ '
',2
. ~ .
~
;~
!t
f
j
::i I
:i
. .~
.~
;~
.tt
~
.;~
:~
;~
~l i
;~ }
~
.~
I
i
'~
I
I
I
I
~
i
~
.,
ji r
f
f
f
;tit
!J
I
~I
:~~ .
.i~
. .~
~
The sales range in value from $ 0 .48 to $5.96 wi th the
majority of sales below $5.96 per square foot. Based on the
above sales the estimated value via the Sales Comparison
Analysis is no more than $5.50 per square foot or $71,654 or
$70,000 (rounded).
Based on the income producing potential of the property the
indicated value via the Income & Expense Analysis is $105,000.
The two approaches indicate a range between $70,000 and
$105,000. The estimated value for the subj ect property is
$105,000. This is for consultation purposes only. If you desire
a formal appraisal, please contact us.
jJ~
Gregory R. Langer
GRL: cgp
;.01
i~
CHELSEA YACHT CLUB
North Point Parking Lot
9 Front Street
Wappingers Falls, New York
INCOME
Winter Boat Storage Rentals
24 boats X 25 lineal ft @$30 per lineal foot
Summer Boat Storage Rentals
7 cars & trailers @$250 per summer season
Potential Income
VACANCY & CREDIT LOSS @ 20%
Effective Income
EXPENSES
Real Estate Taxes
Insurance
Professional Fees
Management
Miscellaneous
. I Total Expenses
I NET OPERATING INCOME
CAPITALIZATION RATE
INDICATED VALUE
(Roun~ed)
$18,000 market.
.'
$1.750 market
.'
$19,750
~3,950
~
$0 equalized
. $500 typical
$200 typical
$1,896 12%of EGI
$1,000 typical
.... -...- .- ..
.'
."
4
$15,800
\
I
$3,596 !
i
$12,204 i
0.1157877 i
$105,400
$105,000
GREGORY R. LANGER - APPRAISER'S QUALIFICATIONS
EDUCATION:
BA - Hartwick College, Oneonta, New York
Undergraduate
Newburgh Free Academy Adult Education
Principles of Real Estate
Real Estate Law
New York State Association of Realtors
Graduate Realtors Institute - Course I
Marist College
Society of Real Estate Appraisers
Course 101 - An Introduction to
Appraising Real Property
Pennsylvania State University
Society of Real Estate Appraisers
Course 201 - Principles of
Income Property Appraising
5
1976
1976
1977
1977
1980
1981
Dartmouth College
American Institute of Real Estate Appraisers
'Capitalization Theory and Techniques
Parts II and III 1982
American Institute of Real Estate Appraisers
Case studies in Real Estate Valuation
and Valuation Analysis and
Report Writing
Tampa, Florida.
American Institute of Real Estate Appraisers
Standards of Professional Practice
University of Florida
American Institute of Real Estate Appraisers
Real Estate Investment Analysis
MEMBERSHIPS AND AFFILIATIONS:
.American Institute. 'of Bear Estate Appraisers
.. MAl Candidate
1983
1984
1985
6
State of New York ~
Certified Real Estate General Appraiser - #46-43405
COURSES/SEMINARS:
Argus Seminar
1993
Appraisal Institute
Consideration of Environmental
Hazards in Real Estate Valuation
1994
Appraisal Institute.
Understanding Limited Appraisals
1994
Orange County Community College
Environmental Law and
The Planning Board
1995
Appraisal Institute
New Industrial Valuation
1997
Appraisal Institute
Appraisal of Local Retail Properties
1998
Appraisal Institute
Attacking & Defending.an Appraisal
In Litigation
1998
Appraisal Institute
Emerging Technologies Forum
1998
Appraisal Institute
Internet Search Strategies
1998
Appraisal Institute - Mid Hudson Chapter
Standards of Professional Appraisal
Practice ~ Part C - Course 11430
9/2002
Appraisal Institute
Scope of Work:. Expanding Your Range
of Services
10/2003
Appraisal Institute
Course 1400N - USPAP Na~ional Update
Standards and Ethic~ for Profes~ionals
10/2003
Manfred Real Estate Learning Center, Inc.
Code #0022 - (AQ1). Fair Housing,
7
Fair Lending & Environmental Issue
1/2004
Appraisal Institute
Code #2352-07 - Appraisal Consuiting:
A Solution Approach for Professionals
5/2005
Appraisal Institute
Subdivision Valuation
6/2005
Appraisal Institute NY State Code #2814-07
Appraising Convenience Stores
12/2005
Appraisal Institute.- NY State Code #2837-02
2006 Changes to USPAP; The Demise of Departure 3/2006
Appraisal Institute - NY State Code #2839-07
Analyzing Commercial Lease Clauses
6/2006
Appraisal Institute - NY State Code #2379-07
USPAP Update Course.
9/2006
." Appraisal Institute - NY 'State Code #3023-02
Onlin~ Valuation Resources to the NY Appraiserl1/2007
EXPERIENCE:
Valuation Consultants, Inc. 3/93 to Present
Owner and Senior Commercial Appraiser
As an owner of the company, I will review and appraise all types
of commercial appraisal reports.
H.F. Ahmanson and Company
11/86 to 2/93
Served in various positions including Senior Real Estate
Financial Analyst, Chief. Appraiser of the Bowery and Vice
President-Loan Officer. Responsibilities and duties included
valuation. of the commercial real estate portfolio on the Eastern
Seaboard, overseeing a full staff of commercial appraisers in
the Manhattan office, portfolio valuation in the acquisition of
Bowery Savings Bank and Home Savings Bank, and northeast lending
operations.
EasternSavinqsBank
10/85 to 11/86
Served~san Assistant Vice ~resident in lending, as w~ll as an
Appraiser
8
Appraisal Services Company
10/79 to 10/85
Worked as the Senior Commercial Appraiser after previously
performing residential appraisals and overseeing the residential
staff.
Sold Residential Real Estate
1976 to 1979
I have appraised all types of residential property, commercial
_ and industrial buildings, farms and vacant land.
I have made appraisals for financial institutions, attorneys,
major corporations, home guarantee programs, insurance companies
and others. I have worked on assignments for the following
companies:
I have had experience in court testimonials for various cases
A. GENERAL EXPERIENCE
American Business Lenders
Appraisal Management
Astoria
Bank.of America
Bank of New York
Berkshire Bank.
Business Lending
Chase Manhattan Bank
Citizens Bank
City of Newburgh
Community Preservation Corporation
Concorde Lending
Dormitory Authority of State of New York
Eastern Savings Bank
Interbay
HSBC Bank USA
Hudson United Bank
Hudson Valley Bank
Hudson Valley Federal Credit Union
Key Bank of New York
Lakeland. Bank.
Lend Lease.
M&T Bank
Metbank
Mahopac National Bank
Mid H~dson Valleyiederal Credit Uni6n
~ewburghCentral~chobl bistrict
New York State Office of Mental Retardation and
~J
'*
.~
..
"
9
p,
I
.a',
.~
jj
:~
/iF
Developmental Disabilities
Orange County Trust
Putnam County Savings Bank
Provident Bank
Rhinebeck Savings Bank
Riverside Bank
Rondout Bank
SI Bank and Trust
Stanley Marks and Company, CPA
Summit Bank
SBU
Town of Chester
Town of Newburgh
Town of Wallkill
Trust Company of New Jersey
Ulster Savings Bank
Union Savings Bank
. Union State Bahk
Vanacore, DeBenedictu~, DiGiovanni and Weddell, CPA
Valley National Bank '
Village of Walden
Walden Federal
Walden Savings
. Webster Bank.
Wilber National Bank
B. AREAS OF APPRAI SAL EXl?ERIENCE ..
New York State -
COUNTIES: Orange, Dutcpess, Putnam, Rockland, Sullivan, and
Ulster
10
FACTUAL STATISTICAL AND REFERENCE INFORMATION
An up-to-date set of area Zoning Maps and Ordinances.
city maps showing existence of underground utilities.
Maintenance of sales transactions by subdivisions and street
name, effective dates of sale and current listing.
~ Current community statistics' referring to retail sales, bank
clearance, employment, transportation routes, construction
activity, and mortgage recordings.
Census Tract Maps.
Flood Plain Maps.
Wetland Maps. '.
NY>' 0ARD OF REAL PROPERTY SERV"- -"':S
,,~-524 (10/02)
;~~~
~<f\Ch
~ >JQ;...."r..
. PI. J'j.ti<,
. ""f:1~ 'Y~ "'''ft.-
,,:) aV/
<~ ~..
Town of Wappinger '"' <<, "'Yo"'\>
(city, town village or countyr~ 'y:~c'
COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 2008
BEFORE THE BOARD OF ASSESSMENT REVIEW FOR
PART ONE: GENERAL INFORMATION
(General information and instructionsfor completing thisform are contained inform RP-524-Ins)
I, Name and telephone no. of owner(s)
Chelsea Yacht Club
~Joel D":o;Hl.l:ni'g, Trustee)
Dav no. ( 84~ 471-7177 x128
Evening no. (84~ 473-8487
2. Mailing Address of owner(s)
P.o. Box 180
Chelsea, New York 12510
3. Name, address and telephone no. of representative of owner, if representative is filing application.
(if applicable, complete Part Four on page 4.)
4. Property location
15 Fro,nt Street
Street Address
Village (if any)
Wappinger
City/Town
Dutchess
County
Beacon City School District
School District
5. Property identification (see tax bill or assessment roll)
Tax map number or sectionlblockllot 5956-12-949637-0000
Type 0 f property:
Residence
Farm
Vacant land
x
Commercial
Industrial
Other
x
Description: Vacant Lot, .081 acres, used by Chelsea Yacht Club for parking
8Jld hoat c:;tnnlr/~
Assessed value appearing on the assessment roll:
6. Land $ 30.000
Total $ 30,000
7. Property owner's estimate of current full market value of property (see Part Two on page 2) $ 20,000
2
RP-524 (10/02)
PART TWO: INFORMATION NECESSARY TO DETERMINE VALUE OF PROPERTY
(If additional explanation or documentation is necessary, please attach)
Information to support the value of property claimed in Part One, item 7 (complete one or more):
L _ Purchase price of property: ............................................................................................ $
a. Date of purchase:
b. Tenns:
Cash __Contract
Other (explain)
c. Relationship between seller and purchaser (parent-child, in-laws, siblings, etc.):
d. Personal property, if any, included in purchase price (furniture, livestock, etc.; attach list and sales
tax receipt):
2. _ Property has been recently offered for sale (attach copy of listing agreement, if any):
When and for how long:
How offered:
Asking price: $
3. ~ Property has been recently appraised (attach copy): When: 5/07 By Whomyalua tion Consultant
Inc.
Purposeofappraisal:to review assessment Appraised value: $ 20,000
4. _ Description of any buildings' or improvements located on the property, including year of
construction and present condition:
5. _ Build ings have been recently remodeled, constructed or additional improvements made:
Cost $
Date Started:
Date Completed:
Complainant should submit construction cost details where available.
6. ~ Property is income producing (e.g., leased or rented), commercial or industrial property and the
complainant is prepared to present detailed information about the property including rental income,
operating expenses, sales volume and income statements.
7. X Additional supporting documentation (check if attached).
- .
3
RP-524 (10/02)
P ART THREE: GROUNDS FOR COMPLAINT
A. UNEQUAL ASSESSMENT (Complete items 1-4)
1. The assessment is unequal for the following reason: (check a or b)
a.~ The assessed value is at a higher percentage of value than the assessed value of other real property on the
assessment roll.
b._ The assessed value of real property improved by a one, two or three family residence is at a higher
percentage of full (market) value than the assessed value of other residential property on the assessment
roll or at a higher percentage of full (market) value than the assessed value of all real property on the
assessment roll.
2. The complainant believes this property should be assessed at 96 % of full value based on one or more of
the following (check one or more):
a._ The latest State equalization rate for the city, town or village in which the property is located is _%.
b._ The latest residential assessment ratio established for the city, town or village in which the residential
property is located. Enter latest residential assessment ratio only if property is improved by a one, two or three
family residence %. .
c._ Statement of the assessor or other local official that property has been assessed at
d.~ Other (explain on attached sheet).
3. Value of property from Part one #7........................................................................................... $
4. Complainant believes the assessment should be reduced to ........................................................ $
%.
20,000
19,200
B. EXCESSIVE ASSESSMENT (Check one or more)
The assessment is excessive for the following reason(s):
1. X The assessed value ex.ceeds the full value of the property.'
a.Assessed value of property. .................................................................................................... $ :30,000
b. Complainant believes that assessment should be reduced to full value of (Part one #7) .............. $ 20, 000
c. Attach list of parcels upon which complainant relies for objection, if applicable.
2. _ The taxable aSsessed value is excessive because of the denial of all or portion of a partial exemption.
a. Specify exemption (e.g., senior citizens, veterans, school tax relief [STAR])
b. Amount of exemption claimed .............................................................................................. $
c. Amount granted, if any:..... ........ .............. ........ ........................ ........ .... .................................... $
d. If application for exemption was filed, attach copy of application to this complaint.
3. _ Improper calculation of transition assessment. (Applicable only in approved assessing unit which has
adopted transition assessments.)
a. Transition assessment..... ........... .................. ....... ......... ...................... ...... .............................. $
b. Transition assessment claimed .........:.................................................................................... $
C. UNLAWFUL ASSESSMENT (Check one or more)
The assessment is unlawful for the following reason(s):
1. _ Property is wholly exempt. (Specify exemption (e.g., nonprofit organization))
2. _ Property is entirely outside the boundaries of the city, town, village, school distri:::t or special district in
which it is designated as being located. .
3. _ Property has been assessed and entered on the assessment roll by a person or body without the authority to
make the entl)'.
4. _ Property cannot be identified from description or tax map number on the assessment roll.
5. _ Property is special franchise propeliy, the assessment of which exceeds the final assessment thereof as
determined by the State Board of Real Property Services. (Attach copy of State Board certificate.)
D. MISCLASSIFICATlON (Check one)
The property is misclassified for the following reason (relevant only in approved assessing unit which establish
homestead and non-homestead tax rates):
_ Class designation on the assessment roll: ................:..
1._ Complainant believes class designation should be....
2. _ The assessed value is improperly allocated between homestead and non-homestead real property.
Allocation of assessed value on assessment roll Claimed allocation
Homestead ........... $
Non -Homestead... $
RP -524 (10/02)
4
PART FOUR: DESIGNATION OF REPRESENTATIVE TO MAKE COMPLAINT
I, , as complainant (or officer thereof) hereby
designate to act as my representative in any and all
proceedings before the board of assessment review of the city/town/village/county of for
purposes ofreviewing the assessment of my real property as it appears on the _(year) tentative assessment roll
of such assessing unit.
Signature of owner (or officer thereof)
Date
PART FIVE: CERTIFICATION
I certify that all statements made on this application are true and correct to be best of my knowledge and belief, and I
understand that the making of any willful fake statement of material fact herein will subject me to the provisions of
the Penal Law relevant to the making and filing offalse instruments. / /7
t>
ignature of owner (or repr
May 27, 2008
Date
'--- .~ /
IrA.I7e e
ive)
. PART SIX: STI 1Q!: i
The complainant (or complainant's representative) and assessor (or assess designated by a majority of the board of
assessors) whose signatures appear below stipulate that the following assessed value is to be applied to the above
described property on the _(year) assessment roll: Land $ Total $
o (Check box if stipulation approves exemption indicated in Part Three, section B.2. or C.l.)
Complainant or representative
Assessor
Date
SP ACE BELOW FOR USE OF BOARD OF ASSESSMENT REVIEW
Dis,Q2.,sition
o Unequal assessment UExcessive assessment
o Unlawful assessment DMisclassification
o Ratification of stipulated assessment DNa change in assessment
Reason:
Vote on Complaint
o All concur
o All concur except:
Name
o against
o against
o abstain
o abstain
o absent
o absent
Name
Decision by
Board of Assessment Review
$
$
$
$
Tentative assessment
Total assessment $
Transition assessment (if any).. $
Exempt amount........................ $
Taxable assessment.................. $
Class designation and allocation of assessed value (if any):
Homestead ............................. $ $
Non-homestead ....................... $ $
Date notification mailed to complainant
$
$
Additional Information for Part Three. Line A.2.d
For example, 47 Marlorville Road, which recently sold for $288,000, is assessed
at $276,000 or 95.83 percent of its recent sale price.
Comparable property utilized for similar purposes (3 Front Street, 5 Front Street
and Front Street Rear) all owned by Michael Schwall) have been assessed at
substantially lower values per square foot in the assessment roll.
'" .:~ . - ,
"," ..
,:'!)
"
e't .'
Ji.:
II
~w York
;_:.(i-;
~; ::;
'\1
CONSULTANTS-
z %
()
o 0
<(
::>
:0
."
o
:0
,.
...
m
o
<(
>
May 8, 2007
'iMr. Will Gordon
"
:!Commodore
iiChelsea Yacht Club
'jChelsea, New York 12512
iRE:
.1
i
:
OUR FILE NO. D704064
GRID NUMBER 5956-12-949637-0000
15 FRONT STREET
WAPPINGERS FALLS, NEW YORK, 12590
Mr. Gordon:
You have requested consultation regarding. the proposed
in assessment on the above referenced property. The
subj ect is a vacant lot totaling 3,529 square feet or .081
acres. The proposed assessment is $30,000.
The subject is located within 250 feet of multiple flood
zones and is in a low lying area and has a history of flooding.
As per the Board of Health Representative of Dutchess County,
'the distance requirements between a well and septic to be placed
on the same lot is 100 feet. For low lying areas and flood
plains the distance is 200 feet. The site is in a R-40 zoning
District. The setbacks are 25 feet for the sides and 50 feet for
the front and rear. If the site requires Board of Health
Approval the well for the site would have to be relocated or
site
improvements would be
required depending
on
the
2
circumstance. As a result, for this appraisal we have assumed
the site is not buildable.
We researched the Wappingers market for sales of small
parcels. The sales we did find are as follows:
A list of sales is as follows:
ADDRESS SIZE - SALES PRICE PER SQ. FT.
SQUARE FEET
o Dutchess Drive 11,761 $15,000 $1. 27
Holmes, New York
2 Wessel Road 16,117 $11,000 $.69
Wappinger, New York
118 Market Street 22,651 $135,000 $5.96
Wappingers Falls
5 Dutchess Avenue 4,356 $74,000 $1. 70
Wappingers
,
Market Street 20,909 $10,009 $0.48
Wappingers
Hamil ton Road 20,038 $20,000 $1. 00
Wappingers
.
64 Kent Road 25,265 $80,000 $3.17
Wappingers
100 Route 9 22,651 $40,000 $1. 76
Wappinger
Route 9 4,356 $10,000 $2.29
Wappinger
Route 9D 174,240 $95,000 $0.55
Wappingers Falls
Route 9D 220,423 $110,000 $0.50
Wappinger
7 Old Town Road 23,522 $45,000 $1.91
Beacon, New York
The sales range in value from $0.48 to $5.96 with the
majority of sales below $3.17 per square foot. Based on the
above sales we estimate a value of no more than $5.50 per square
foot or $19,409 or $20,000 (rounded).
3
Based on the income producing potential of the
property the indicated value via the Income & Expense Analysis
is $25,000.
The two approaches indicate a range between $20,000 and
$25,000. The estimated value for the subject property is
$25,000. This is for consultation purposes only. If you desire
a formal appraisal, please contact us.
Sincerely,
,~' ft.~
GREGORY R.~GER
GRL:cgp
-j
~'{;' .
<
lil
f~ ;
-.'1',
\.~ ;
;~ i
'.:;,
,'Ul
if'
:~~~
";
',"'
:} .
;"",..;
w
}~
~
,;,
;'~
. CHELSEA YACHT CLUB
South Point Parking Lot
15 Front Street
; Wappingers Falls, New York
INCOME
! Winter Boat Storage Rentals
, 6 boats X 25 lineal ft @$30 per lineal foot
Summer Boat Storage Rentals
2 cars & trailers @$250 per summer season
Potential Income
VACANCY & CREDIT LOSS @ 20%
Effective Income
EXPENSES
Real Estate Taxes
Insurance
Professional Fees
Management
Miscellaneous
T atal Expenses
NET OPERATING INCOME
CAPITALIZATION RATE
INDICATED VALUE
(Rounded)
4
$4,500 market
,$500 market
$5,000 '
,$1,000
$4,000 :
$0 . equalized
$150 i typical
$200 typical
$480: 12%ofEGI
$300! typical
~ 1, 1 30
$2,870
0.1157877
$24,787 :
$25,000 .
GREGORY R. LANGER - APPRAISER'S QUALIFICATIONS
EDUCATION:
BA - Hartwick College, Oneonta, New York
Undergraduate
Newburgh .Free Academy - Adult Education
Principles of Real Estate
Real Estate Law
New York State Association of Realtors
Graduate Realtors Institute - Course I
Marist College
Society of Real Estate Appraisers
Course 101 - An Introduction to
Appraising Real Property
Pennsylvania State University
Society of Real Estate Appraisers
Course 201 - Principles of
Income Property Appraising
Dartmouth College
American Institute of Real Estate Appraisers
Capitalization Theory and Techniques
Parts II and III
American Institute of Real Estate Appraisers
Case Studies in Real Estate Valuation
and Valuation Analysis and
Report writing
Tampa, Florida
American Institute of Real Estate Appraisers
Standards of Professional Practice
University of Florida
American Institute of Real Estate Appraisers
Real Estate Investment Analysis
MEMBERSHIPS AND AFFILIATIONS:
. Amer.ican Institute of Real Estate Appraisers
MAl Candidate
5
1976
1976
1977
1977
1980
1981
1982
1983
1984
1985
6
State of New York -
Certified Real Estate General Appraiser - #46-43405
COURSES/SEMINARS:
Argus Seminar
1993
Appraisal Institute
Consideration. of Environmental
Hazards in Real Estate Valuation
1994
Appraisal Institute
Understanding Limited Appraisals
1994
Orange County Community College
Environmental Law and
The Planning Board
1995
Appraisal Institute
New Industrial Valuation
1997
Appraisal Institute
. Appraisal of Local Retail Properties
1998
Appraisal Institute
Attacking & Defending an Appraisal
In Litigation
1998
Appraisal Institute
Emerging Technologies Forum
1998
Appraisal Institute
Internet Search Strategies
1998
Appraisal Institute - Mid Hudson Chapter
Standards of Professional Appraisal
Practice - Part C - Course 11430
9/2002
Appraisal Institute
Scope of Work: Expanding Your Range
of Services
10/2003
Appraisal Institute
Course 1400N - USPAP National Update
Standards and Ethics for Processionals
10/2003
Manfred Real Estate. Learning Center, Inc.
Code #0022 - (AQ1) Fair Housing,
7
Fair Lending & Environmental Issue
1/2004
Appraisal Institute
Code #2352-07 - Appraisal Consulting:
A Solution Approach for Professionals
5/2005
Appraisal Institute
Subdivision Valuation
6/2005
Appraisal Institute NY State Code #2814-07
Appraising Convenience Stores
12/2005
Appraisal Institute - NY State Code #2837-02
2006 Changes to USPAP; The Demise of Departure 3/2006
EXPERIENCE:
Valuation Consultants, Inc. 3/93 to Present
Owner and Senior Commercial Appraiser
As an owner of the company, I will review and appraise all types
of commercial appraisal reports.
H.F. Ahrnanson and Company
11/86 to 2/93
Served in various positions including Senior Real' Estate
Financial Analyst, Chief Appraiser of the Bowery and Vice
President-Loan Officer. Responsibilities and duties included
valuation of .the commercial real estate portfolio on the Eastern
Seaboard, overseeing a full staff of commercial appraisers in
the Manhattan office, portfolio valuation in the acquisition of
Bowery Savings Bank and Horne Savings Bank, and northeast lending
operations.
Eastern Savinqs Bank
10/85 to 11/86
Served as an Assistant Vice President in lending, as well as an
APpraiser
APpraisal Services Company
10/79 to 10/85
Worked as the Senior Commercial Appraiser after previously
performing residential appraisals and overseeing the residential
staff.
Sold Residential Real Estate
1976 to 1979
I have appraised all types of residential property, commercial
8
and industrial buildings, farms and vacant land.
I have made appraisals for financial institutions, attorneys,
major corporations, home guarantee programs, insurance companies
and others. I have worked on assignments for the following
companies:
A. GENERAL EXPERIENCE
American Business Lenders
Appraisal Management
Astoria
Bank of America
Bank of New York
Berkshire Bank
Business Lending
Chase Manhattan Bank
citizens Bank '
city of Newburgh
Community preservation Corporation
Concorde Lending
Dormitory Authority of State of New York
Eastern Savings Bank
Interbay
HSBC Bank USA
Hudson United Bank
Hudson Valley Bank
Hudson Valley Federal Credit Union
Key Bank of New York
Lakeland Bank
Lend Lease
M&T Bank
Metbank
Mahopac National Bank
Mid Hudson Valley Federal Credit Union
Newburgh Central School District
New York State Office of Mental Retardation and
Developmental Disabilities
Orange County Trust
putnam County Savings Bank
Provident Bank
Rhinebeck Savings Bank
Riverside Bank
Rondout Bank
S1 Bank and Trust
Stanley Marks and Company, CPA
Summit Bank
SBU
Town of Chester
Town of Newburgh
Town of Wallkill
Trust Company of New Jersey
Ulster Savings Bank
Union Savings Bank
Union State Bank
Vanacore, DeBenedictus, DiGiovanni and Weddell, CPA
Valley National Bank
Village of Walden
Walden Federal. .
Walden Savings
Webster Bank
Wilber National Bank
B. AREAS OF APPRAISAL EXPERIENCE -
New York State -
9
COUNTIES: Orange, Dutchess, Putnam, Rockland, Sullivan, and
Ulster
FACTUAL STATISTICAL AND REFERENCE INFORMATION
An up-to-date set of area Zoning Maps and Ordinances.
City maps showing existence of underground utilities.
Maintenance of sales transactions by subdivisions and street
name, effective dates of sale and current listing.
Current community statistics referring
clearance, employment, transportation
activity, and mortgage recordings.
to retail sales, bank
routes, construction
Census Tract Maps.
FloodPlain Maps.
Wetland Maps.
- . rs BOARD OF REAL PROPERTY SF' TICES
flo$"(RP~524 (10/02)
'-~ '~~'"
~'S:'0 c;:~.,
-ij' . ~;q~~{/'~>:""
,~d'A . i' :'t:\ ~''''
',''v J~ <.J) - ':..I
0<, l' OF\.
f(!:\ ...."'"
of Wappinger (!'.ih' ~t~
(city, town village or county)'~tr "
COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 2008
BEFORE THE BOARD OF ASSESSMENT REVIEW FOR
Town
PART ONE: GENERAL INFORMATION
(General information and instructionsfor completing this form are contained inform RP-524-lns)
1. Name and telephone no. of owner(s)
Chelsea Yacht Club
(JoeID. Hanig, Trustee)
Day no. (84~ 471-7177 x128
i. Mailing Address of owner(s)
P.O. Box 180
Chelsea, New York 12510
Evening no. (845) 473-8487
3. Name, address and telephone no. of representative of owner, if representative is filing application.
(if applicable, complete Part Four on page 4.)
4. Property location -
19 Front Street
Street Address
Village (if any)
Wappinger
City/Town
Dutchess
County
Beacon City School District
School District
5. Property identification (see tax bill or assessment roll)
Tax map number or section/block/lot 5956-12-945626-0000
Type ofproperty:
Residence
x
Farm
Vacant land
Commercial
Industrial
Other
Description: Two-story residence, four rooms with one bath, 1010 square
feet located on .08 acres.
Assessed value appearing on the assessment roll:
6. Land $ 32,000
TohiI $ 307,600
7. Property owner's estimate of current full market value of property (see Part Two on page 2) $ 260,000
2
RP-524 (10/02)
P ART TWO: INFORMATION NECESSARY TO DETERMINE VALUE OF PROPERTY
(If additional explanation or documentation is necessary, please attach)
Information to support the value of property claimed in Part One, item 7 (complete one or more):
1. _ Purchase price of property: ......... ...... ......... ...... .... ............ ............. ........ ........ ............. .... $
a. Date of purchase:
b. Terms:
Cash
Contract
Other (explain)
c. Relationship between seller and purchaser (parent-child, in-laws, siblings, etc.):
d. Personal property, if any, included in purchase price (furniture, livestock, etc.; attach list and sales
tax receipt):
2. _ Property has been recently offered for sale (attach copy of listing agreement, if any):
When and for how long:
How offered:
Asking price: $
3. ~ Property has been recently appraised (attach copy): When: 5/07 By Whom: Valuation Consultant:
Inc.
Purpose of appraisal: To review assessment
. Appraised value: $ 260,000
4. Description of any buildings or improvements located on the property, including year of
construction and present condition:
5. _ Buildings have been recently remodeled, constructed or additional improvements made:
Cost $
Date Started:
Date Completed:
Complainant should submit construction cost details where available.
6. _ Property is income producing (e.g., leased or rented), commercial or industrial property and the
complainant is prepared to present detailed information about the property including rental income,
operating expenses, sales volume and income statements.
7. ~ Additional supporting documentation (check if attached).
3
RP-524 (10/02)
PART THREE: GROUNDS FOR COMPLAINT
A. UNEQUAL ASSESSMENT (Complete items 1-4)
1. The assessment is unequal for the following reason: (check a or b)
a._ The assessed value is at a higher percentage ofva1ue than the assessed value of other real property on the
assessment roll.
b._ The assessed value of real property improved by a one, two or three family residence is at a higher
percentage of full (market) value than the assessed value of other residential property on the assessment
roll or at a higher percentage of full (market) value than the assessed value of all real property on the
assessment roll.
2. The complainant believes this property should be assessed at 96 % of full value based on one or more of
the following (check one or more):
a,_ The latest State equalization rate for the city, town or village in which the property is located is _%.
b._ The latest residential assessment ratio established for the city, town or village in which the residential
property is located. Enter latest residential assessment ratio only if property is improved by a one, two or three
family residence %. .
c,_ Statement of the assessor or other local official that property has been assessed at %.
d,_ Other (explain on attached sheet).
3. Value of property from Part one #7........................................................................................... $ ?of'" J 000
4, Complainant believes the assessment should be reduced to ........................................................ $ 249.600
B. EXCESSIVE ASSESSMENT (Check one or more)
The assessment is excessive for the following reason(s):
1. ~ The assessed value exceeds the full value ofthe property.
a.Assessed value of property ................................................................................................... $ 307.600
b, Complainant believes that assessment should be reduced to full value of (part one #7).. .... ........ $ 260.000
c. Attach list of parcels upon which complainant relies for objection, if applicable.
2. _ The taxable assessed value is excessive because of the denial of all or portion of a partial exemption.
a,Specify exemption (e.g., senior citizens, veterans, school tax relief [STAR])
b. Amount of exemption claimed .................................................... ............ .............................. $
c. Amount granted, if any:................ .......... .......... ........ ......... .......... ........... ...........................:... $
d. If application for exemption was filed, attach copy of application to this complaint.
3. _ Improper calculation of transition assessment. (Applicable only in approved assessing unit which has
adopted transition assessments.)
a. Transition assessment.. ......... ..... ................. .............. ...... ....... ..... .... ........,........... .................. $
b. Transition assessment claimed ........... .............. ................ ........... ....... ............... ..... ............... $
c. UNLAWFUL ASSESSMENT (Check one or more)
The assessment is unlawful for the following reason(s):
1. _ Property is wholly exempt. (Specify exemption (e.g., nonprofit organization))
2. _ Property is entirely outside the boundaries of the city, town, village, school distrCt or special district in
which it is designated as being located.
3. _ Property has been assessed and entered on the assessment roll by a person or body without the authority to
make the entry.
4. _ Property cannot be identified from description or tax map number on the assessment roll.
5. _ Property is special franchise property, the assessment of which exceeds the final assessment thereof as
detennined by the State Board of Real Property Services. (Attach copy of State Board certificate.)
D. MISCLASSIFICATION (Check one)
The property is misclassified for the following reason (relevant only in approved assessing unit which establish
homestead and non-homestead tax rates):
_ Class designation on the assessment roll: .............:.....
1. _ Complainant believes class designation should be .... .
2. _ The assessed value is improperly allocated between homestead and non-homestead real property.
Allocation of assessed value on assessment roll Claimed allocation
Homestead ........... $
Non -Homestead... $
RP-S24 (10/02)
4
PART FOUR: DESIGNATION OF REPRESENTATIVE TO MAKE COMPLAINT
I, , as complainant (or officer thereof) hereby
designate to act as my representative in any and all
proceedings before the board of assessment review of the city/town/village/county of for
purposes of reviewing the assessment of my real property as it appears on the _(year) tentative assessment roll
of such assessing unit.
Signature of owner (or officer thereof)
Date
PART FIVE: CERTIFICATION
I certify that all statements made on this application are true and conect to be best of my knowledge and belief, and I
understand that the making of any willful fahe statement of material fact herein will subj ect me to the provisions of
the Penal Law relevant to the making and filing of false instruments. .
May 27, 2008
Date
P ART SIX: STIPULAT N
The complainant (or complainant' s representative) and assessor (or asse or designated by a maJ ority of the board of
assessors) whose signatures appear below stipulate that the following assessed value is to be applied to the above
described property on the _(year) assessment roll: Land $ Total $
o (Check box if stipulatIon approves exemption indicated in Part Three, section B.2. or c.!.)
Complainant or representative
Assessor
Date
SP ACE BELOW FOR USE OF BOARD OF ASSESSMENT REVIEW
Dis)2..Q,S i tion
o Unequal assessment UExcessive assessment
o Unlawful assessment DMisclassification
o Ratification of stipulated assessment ONo change in assessment
Reason:
Vote on Complaint
o All concur
o All concur except:
Name
o against
o against
o abstain
o abstain
o absent
o absent
Name
Tentative assessment
Total assessment $
Transition assessment (if any).. $
Exempt amount........................ $
Taxable assessment.................; $
Decision by
Board of Assessment Review
$
$
$
$
Class designation and allocation of assessed value (if any):
Homestead ............................. $ $
Non-homestead ....................... $ $
Date notification mailed to complainant
$
$
Additional Information for Part Three, Line A.2.d
For example, 47 Marlorville Road, which recently sold for $288,000, is assessed
at $276,000 or 95.83 percent of its recent sale price.
Comparable property utilized for similar purposes (3 Front Street, 5 Front Street
and Front Street Rear) all owned by Michael Schwall) have been assessed at
substantially lower values per square foot in the assessment roll.
CONSULTANTS;
z n
o 0
:0
"'0
o
:0
>>
-
<(
o
!burgh, New York
::>
-'
<(
>
{845~568-0699
May 8, 2007
Mr. Will Gordon
Commodore
Chelsea Yacht Club
Chelsea, New York 12512
RE: OUR FILE NO. 0704066
GRID NUMBER 5956-12-945626-0000
19 FRONT STREET
WAPPINGER FALLS, NEW YORK, 12590
Dear Mr. Gordon:
You have requested consultation regarding the proposed
increase in assessment on the above referenced property. The
subject is a vacant lot totaling .08 acres improved with a 1,010
square foot older two story residence in average condition
overall. The proposed assessment is $364,000.
The subject is located within 250 feet of multiple flood
zones and is in a low lying area and has a history of flooding.
As per the Board of Health Representative of Dutchess County,
the distance requirements between a well and septic to be placed
on the same lot is 100 feet. For low lying areas and flood
plains the distance is 200 feet. The site is in a R-40 Zoning
District. The setbacks are 25 feet for the sides and 50 feet for
the front and rear. If the site requires Board of Health
Approval the well for the site would have to be relocated or
2
septic improvements would be required depending on the
circumstance. It was not possible to locate the existing well or
septic but since the lot is less than 100 feet it is reasonable
to assume they do not meet code. Therefore, it lS impossible to
expand the existing dwelling and if either the well or septic
fail it could be difficult to replace them on the subject site.
We utilized five sales for comparison purposes and one
listing. A list of sales is as follows:
3
ADDRESS SIZE - SALES PRICE PER SQ. E'T.
SQUARE FEET
22 Conklin Street 1,685 $295,000 $175.07
poughkeepsie, New York
20 Sky Top Drive 1,448 $300,000 $207.18
Wappinger, New York
47 Marlorville Road 1,216 $288,000 $236.84
Wappinger, New York
20 Red Schoolhouse Road 779 $265,000 $340.18
Fishkill, New York
35 W. Booth Boulevard 900 $285,000 $316.67
Fishkill, New York
21 Market Street 1,756 $319,000 $181. 66
Wappinger r New York
We feel that a formal appraisal for the property would a
indicated Market Value of approximately $260,000. This is for
consultation purposes only. If you desire a formal appraisal,
please contact us.
Il~
GRL:cgp
GREGORY R. LANGER - APPRAISER'S QUALIFICATIONS
EDUCATION:
BA - Hartwick College, Oneonta, New York
Undergraduate
Newburgh Free Academy - Adult Education
Principles of Real Estate
Real Estate Law
New York State Association of Realtors
Graduate Realtors Institute - Course I
Marist College
Society o~ Real Estate Appraisers
Course 101 - An Introduction to
Appraising Real Property
Pennsylvania State University
Society of Real Estate Appraisers
Course 201 - Principles of
Income Property Appraising
4
1976
1976
1977
1977
1980
1981
Dartmouth College
American Institute of Real Estate Appraisers
Capitalization Theory and Techniques
Parts II and III 1982
American Institute of Real Estate Appraisers
Case Studies in Real Estate Valuation
and Valuation Analysis and
Report Writing
Tampa, Florida
American Institute of Real Estate Appraisers
Standards of Professional Practice
University of Florida
American Institute of Real Estate Appraisers
Real Estate Investment Analysis
MEMBERSHIPS AND AFFILIATIONS:
American Institute of Real Estate Appraisers
MAl Candidate
1983
1984
1985
5
State of New York -
Certified Real Estate General Appraiser - #46-43405
COURSES/SEMINARS:
1993
Argus Seminar
Appraisal Institute
Consideration of Environmental
Hazards in Real Estate Valuation
1994
Appraisal Institute
Understanding Limited Appraisals
1994
Orange County Community College
Environmental Law and
The Planning Board
1995
Appraisal Institute
New Industrial Valuation
1997
Appraisal Institute
Appraisal of Local Retail Properties
1998
Appraisal Institute
Attacking & Defending an Appraisal
In Litigation
1998
Appraisal Institute
Emerging Technologies Forum
1998
Appraisal Institute
Internet Search Strategies
1998
Appraisal Institute - Mid Hudson Chapter
Standards of Professional Appraisal
Practice - Part C - Course 11430
9/2002
Appraisal Institute
Scope of Work: Expanding Your Range
of Services
10/2003
Appraisal Institute
Course 1400N - USPAP National Update
Standards and Ethics for Professionals
10/2003
Manfred Real Estate Learning Center, Inc.
Code #0022 - (AQ1) Fair Housing,
6
Fair Lending & Environmental Issue
1/2004
Appraisal Institute
Code #2352-07 - Appraisal Consulting:
A Solution Approach for Professionals
5/2005
Appraisal Institute
Subdivision Valuation
6/2005
Appraisal Institute NY State Code #2814-07
Appraising Convenience Stores
12/2005
Appraisal Institute - NY State Code #2837-02
2006 Changes to USPAP; The Demise of Departure 3/2006
Appraisal Institute - NY State Code #2839-07
Analyzing Commercial Lease Clauses
6/2006
Appraisal Institute - NY State Code #2379-07
USPAP Update Course
9/2006
Appraisal Institute - NY State Code #3023-02
Online Valuation Resources to the NY Appraiserl1/2007
EXPERIENCE:
Valuation Consultants, Inc. 3/93 to Present
Owner and Senior Commercial Appraiser
As an owner of the company, I will review and appraise all types
of commercial appraisal reports.
H.F. Ahmanson and Comranv
11/86 to 2/93
Served in various positions including Senior Real Estate
Financial Analyst, Chief Appraiser of the Bowery and Vice
President - Loan Officer. Responsibil it ies and duties included
valuation of the commercial real estate portfolio on the Eastern
Seaboard, overseeing a full staff of commercial appraisers in
the Manhattan office, portfolio valuation in the acquisition of
Bowery Savings Bank and Home Savings Bank, and northeast lending
operations.
Eastern Savinqs Bank
10/85 to 11/86
Served as an Assistant Vice President in lending, as ~ell as an
Appraiser
7
Appraisal Services Company
10/79 to 10/85
Worked as the Senior Commercial Appraiser after previously
performing residential appraisals and overseeing the residential
staff.
Sold Residential Real Estate
1976 to 1979
I have appraised all types of residential property, commercial
and industrial buildings, farms and vacant land.
I have made appraisals for financial institutions, attorneys,
major corporations, home guarantee programs, insurance companies
and others. I have worked on assignments for the following
companies:
I have had experience In court testimonials for various cases
A. GENERAL EXPERIENCE
American Business Lenders
Appraisal Management
Astoria
Bank of America
Bank of New York
Berkshire Bank
Business Lending
Chase Manhattan Bank
Citizens Bank
City of Newburgh
Community Preservation Corporation
Concorde Lending
Dormitory Authority of State of New York
Eastern Savings Bank
Interbay
HSBC Bank USA
Hudson United Bank
Hudson Valley Bank
Hudson Valley Federal Credit Union
Key Bank of New York
Lakeland Bank
Lend Lease
M&T Bank
Metbank
Mahopac National Bank
Mid Hudson Valley Federal Credit Union
Newburgh Central School District
New York State Office of Mental Retardation and
8
Developmental Disabilities
Orange County Trust
Putnam County Savings Bank
Provident Bank
Rhinebeck Savings Bank
Riverside Bank
Rondout Bank
SI Bank and Trust
Stanley Marks and Company, CPA
Summit Bank
SBU
Town of Chester
Town of Newburgh
Town of Wallkill
Trust Company of New Jersey
Ulster Savings Bank
Union Savings Bank
Union State mmk
Vanacore, DeBenedictus, DiGiovanni and Weddell, CPA
Valley National Bank
Village of Walden
Walden Federal
Walden Savings
Webster Bank
Wilber National Bank
B. AREAS OF APPRAI SAL EXPERIENCE -
New York State -
COUNTIES: Orange, Dutchess, putnam, Rockland, Sullivan, and
Ulster
9
FACTUAL STATISTICAL AND REFERENCE INFORMATION
An up-to-date set of area Zoning Maps and Ordinances.
City maps showing existence of underground utilities.
Maintenance of sales transactions by subdivisions and street
name, effective dates of sale and current listing.
Current community statistics referring
clearance, employment, transportation
activity, and mortgage recordings.
to retail sales, bank
routes, construction
Census Tract Maps.
Flood Plain Maps.
Wetland Maps. .
JUL. n 2008
9:05AM
HANIG&HANDEL, LLP
NO. 7124
P. 3
7/16/2009 11: 2'
FROM: F.x Jacobow.l.L~ _(lI.bi t3, LLP
TO: 790-12
PAGE, 002 OF 002
A lJTHORIZATION
THE UNDERSIGNED, beillgthe owner(s) of certain real property located in the
Town ofWappjnge:r~ County of Dutchess and being more specifically identified as
Section 5956, Block 12, Lot 947632;
Section .5956, Block 12, Lot 953650;
Section 5956, Block 12, Lot 949637;
Section 5956, Block 12, Lot 945626
on the assessment roll thereof f'Or the year 2008 - 2009, hereby allthorizes
JACOBOWITZ AND CUBITS, LLP to act as agent for the undersigned with respect to:
1. Verifying and filing a Petition pursuant to Section 706 et al ort11t~ Real Property Tax Law
for the review and reduction of said tax assessment.
Dated: July ff., 2008
~..
T:\DOCS\177\918003\17S564S.\VPD
Index No. Year 2008
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF DUTCHESS
CHELSEA YACHT CLUB,
Petitioners,
~'against-
BOARD OF.ASSESSORS FOR THE TOWN OF
WAPPINGER and TOWN OFWAEPINGER,
Respondents. .
NOTIOE OF APPUIO:A.TION TO REVIEW TAX ASSESSMENT
A:.NDPETITION
..
- - ~.- --,-_-._...
. . . ,JACOBOWITZ.ANDGUBITS
'Attom~ysfor' . Petitioner'
"','i'-;
..' . . "," 158 ORANGE AVENUE.-:P.o. BOX 367
,-, '" "".!;'. -- . 5
~. -~q...:......_..:\;~~~t~~'~;'~;:~~;~':~j0:':C~~:~~';~;';'.<'~~~'" ,',.. ;' WATDEN.,J'iJEW-y,ORK ,Il 86 .
. 'J.:.""':" '. '. .,,~:.,(845rp8~2121'
, ' -: --'-;'~_~;:~'~-~~~~___!::~:}Si ':):~~~~:_~:~;,_.<:~ ." :-. ~:'<:-"~-:~t:-; :~. .:~._v.'p_,. -"_'''~':'.~ - 0".-.""
. '~..-,-,,:~,.~~~:ii%t; :'~~:.-~L~2~,<-;;~:~~?~G:tJj~~:~(~~~~'1:;i:.2':;L~~~~Li~~;;~1;.~:~-~~:_,:'~,:_-;-_:
Attorn~y " .... .
..- ~'~~~~~Tt~~:.,~;,~:~i-
,
. - :-\/~~,,'kl'
'_',1.
" ,;c - ,.:,~"
'-'--'.;'i'i.:-
"""_?,-,-,,~_;,~,,,~~_~",,_. ,..~__ ._""__"'~,~_"~_,.._~_~~-:::~ ''-''~~::~_~::_~:::::A;:::::::~:::-''-::_~_=' ,~-.,~~==~=-=-_~:-,~'''''~,"~'_'''d''''~'_''