AF Monogram
Search
Media

Marriott Courtyard at Laguardia Airport Gains Tax Cut in Excess of $11 Million after Court Challenge

Home > Media > Press Release > Marriott Courtyard at Laguardia Airport Gains Tax Cut in Excess of $11 Million after Court Challenge

PRESS RELEASE

MARRIOTT COURTYARD AT LAGUARDIA AIRPORT

GAINS TAX CUT IN EXCESS OF $11 MILLION

AFTER COURT CHALLENGE

——

85 PERCENT REDUCTION COULD LEAD OTHER HOTELS TO CONTEST NYC’S TAX ASSESSMENT SYSTEM

FOR IMMEDIATE RELEASEWEDNEDAY, JUNE 9, 2021

In a decision that could have implications for all New York City hotels, a Queens Court yesterday handed down a ruling that dramatically reduced the property taxes to be paid by the Marriott Courtyard at LaGuardia Airport. The court ordered a reduction of approximately 85 percent of the tax assessment levied against the hotel, covering tax years 2014-2015 through 2018-2019.

 

The total tax savings for all tax years is in excess of $11 million. The assessment for 2018-2019, was reduced from $25,339,500 to $1,935,000, a refund of $2,460,000 for that year alone.

 

The ruling followed a trial which began in November 2019 in which Queens Judge Joseph Risi would not accept the appraised values of the 288-room hotel introduced by the City. Instead, Judge Risi relied upon and adopted the market and assessed values presented in the hotel taxpayer’s report.

“Every hotel owner should be cheered by this important decision, which stands for the proposition that you can get a redress and justice through the court system on a property tax challenge.”

— Joel Marcus of Marcus & Pollack LLP, which represented the Queens Marriott Courtyard in the case

The case could have implications for all New York City hotel owners and operators, since the City’s tax assessment system is a pre-pandemic evaluation, and consistently overvalues hotel properties.

 

Joel Marcus and Philip Azarian of Marcus & Pollack LLP represented the hotel, and Jeffrey Lebowitz of Abrams Fensterman, LLP was co-counsel. Marcus & Pollack are currently planning several other hotel challenges throughout New York City.

Contact Us

Local Respect,
State-Wide Reach

For further information about our corporate and securities experience, please contact our law firm on Long Island at 516-328-2300, in Brooklyn at 718-215-5300, White Plains at 914-607-7010, Rochester at 585-218-9999 or Albany at 518-535-9477 to schedule an initial consultation.