Justice Thomas Dickerson
The Hempstead Country Club (HCC) owns 123 acres on which it operates a private, not-for-profit golf course. In consolidated tax certiorari proceedings HCC challenged tax assessments imposed by Nassau County’s Board of Assessors, Board of Assessment Review and Assessment Review Commission for tax years 2006/2007, 2007/2008 and 2008/2009. On July 15, 2010, Nassau County supreme court granted HCC assessment reductions; directed that assessment rolls be corrected; and ordered refund of overpayments. Second Department affirmed judgment. Discussing Matter of Mill River Club v. Board of Assessors, it concluded that HCC proved, by preponderant evidence, that its property had been overvalued by the assessors’ methodology that improperly “double-counted” real estate taxes as an expense, thus failing to yield a fair market value. The lower court did not err in adopting HCC’s approach, assuming the majority of comparable properties were operating under group leases or the equivalent thereof; “grossing up” the leases where appropriate, assuming the subject property would operate under a gross lease; and employing the assessor’s formula, including a tax load factor in the capitalization rate.