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Contact:
Michael R. Coston
Director of Marketing and Public Relations
Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP
Phone: 516-248-1700
Email: mcoston@forchellilaw.com
Partner John V. Terrana Named in
the Long Island Business News’ Listing of “Who’s
Who in Tax Certiorari Law”
LIBN “Who’s Who in Tax Certiorari Law”,
2/2/07
Mineola, February 02, 2007 — Partner John V. Terrana
is featured in the Long Island Business News’ listing
of "Who's Who in Tax Certiorari Law." In the article,
Mr. Terrana stresses the importance of reviewing every aspect
of a property’s taxation in order to produce the most
substantial tax certiorari results.
Discussing his findings in a recent tax certiorari matter,
Mr. Terrana explains, "First, there was an error in
the county's assessment of the property's construction status
during one of the tax status dates. Second, the county failed
to phase in an increase in the land assessment of the property.
Third, the county valued the property as if it had excess
land, when in fact it did not."
After proving the property's actual construction status,
citing the law and arguing the county's error in increasing
the land assessment and proving that the property did not
have excess land, the firm was able to obtain a tax credit
of about $700,000 on behalf of its client, Terrana said.
Mr. Terrana counsels clients in all aspects of real estate
taxation, including tax exemptions, the estimation of taxes
for new construction, lease tax escalation clauses and the
sale, purchase and foreclosure of tax liens. Since joining
The Firm in 1993, Mr. Terrana has successfully obtained
millions of dollars in real estate tax refunds and savings
for clients, which include national, regional and local
owners and tenants of all types of commercial and residential
property.
Prior to joining The Firm, Mr. Terrana served as a Deputy
County Attorney for Nassau County, where he practiced in
the areas of tax certiorari, condemnation, tax lien litigation
and real estate. He later became the Glen Cove City Attorney,
where he was general counsel to all of the city's departments
and boards and represented the city in its tax certiorari
matters. He was also counsel to the Glen Cove Community
Development Agency and the Glen Cove Industrial Development
Agency, where he prepared tax, financing and contract documents
for complex real estate projects.
Mr. Terrana is a member of the New York State, Nassau and
Suffolk County Bar Associations and serves on their Tax
Certiorari, Real Property and Municipal Law Committees.
From 2001-2004, he served as Chairman of the Tax Certiorari
and Condemnation Law Committee of the Nassau County Bar
Association. During his tenure as Chairman, Nassau County
completely changed its tax assessment and review process
to what it is today. Mr. Terrana has published numerous
articles and lectures on tax certiorari issues. He was selected
for inclusion in Long Island Business News' "40 Under
40" (1999).
For more information, please pick up the latest issue of
the Long Island Business News or visit www.libn.com.
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