New York Court of Appeals June 13, 1996 (Town of Brookhaven v. New York State Board of Equalization & Assessment)

OPINION OF THE COURT

Smith, J.

This appeal raises the issue of whether, transition assessments as provided for by RPTL 545 are applicable to decreases in tax revenue resulting from the takeover and decommissioning of the Shoreham nuclear power plant by the Long Island Power Authority (LIPA), a corporate municipal instrumentality of New York State.