[gamblor956]

Well, I am saying you are wrong, and quite specifically saying that the authority cited earlier says that the Cost Method (#2) based on comparable uses is used for industrial sites.

The Cost Method entails: - assessor calculates the cost to replace a structure with a similar one using today's labor and material prices - subtract depreciation - add the market value of the land - used to value industrial, special purpose and utility properties

This is not a rental-based method. #3 (Income-based) is a rental-based method, and is used for residential and commercial non-industrial (i.e., retail or office) sites.

The property mentioned in the NYT article is currently an industrial site and would be governed by method #2: replacing the current factory with a similar facility (i.e., comparable use) based on today's costs.