Carpinello, J.
These proceedings arise out of petitioners' challenge to real property tax assessments for tax years 1993 through 1998 for their supermarket located in the Town of Queensbury, Warren County. The property tax assessments for the first five years at issue were all $3,831,000. After petitioners expended approximately $4,765,000 renovating the supermarket and incorporating almost 35,000 square feet of previously vacant space in the building into the market...
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