38) RPTL section 727 "provides a three-year respite from any change in the assessed valuation of property" when a prior assessment is found improper by a court, unless there has been "a revaluation or update of all real property on the assessment roll.
41) Reading RPTL section 1573 completely, Judge Smith finds that it reveals another aid provision--which is tri-annual rather than annual--that more closely resembles the exception in RPTL section 727.
44) The purpose of RPTL section 727 is to "provide some respite from litigation" for a reasonable time when a valuation has been resolved, however, the exception to the respite operates to prevent unfairness if "every other taxpayer in town is being subjected to a reexamination of the value of his or her property.
Board of Assessors, (48) where the court wrestles with the permissibility of fractional assessments that drove property values in Nassau County beyond the statutory maximums permitted by RPTL section 1805.
RPTL merged nine group companies with itself (effective from April 1, 2008 onwards), in order to consolidate its logistics, engineering, and construction-related services businesses.
The merger has reduced the proportion of revenues RPTL derives from RIL under the throughput agreement with RIL; nevertheless, profitability and cash flows from these throughput agreements continue to form a significant proportion of the merged entity's profitability and cash flows.
CRISIL believes that RPTL will remain strategically important to RIL.
RPTL was formed in 1997 with equity contributions from group companies of the Reliance group.