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The Supreme Court has granted certiorari to hear the case of Cantero v. Bank of America, which raises the question of whether the National Bank Act preempts state escrow-interest laws for national banks. The plaintiffs in the case are homeowners who allege that Bank of America failed to pay interest on their escrow accounts as required by New York law. The Second Circuit held that the New York law was preempted by the National Bank Act, while a Ninth Circuit case reached the opposite conclusion. The Supreme Court's decision in Cantero may provide clarity on the issue of NBA preemption. [Extracted from the article]

Reports on the decline residential tax certiorari's or small claims assessment review petitions in Long Island, New York State. Implications of the decline; Criticisms of the real property tax system in the area; Comment by Paul Henry, president of Tax Reduction Services.

The article reports on the settlement of the tax certioraru suit filed by Dynergy Inc. against Marlboro School District in Newburgh, New York. The court dropped the district's tax payable from $1.46 billion to $895 million, however, the taxpayers will pay the 411 million settlement cost. Voters approved to the $60 million bond for the reconstruction of the 60-year old high school building.

The article reports on the partnership between the law firms Siegel Fenchel Peddy PC and Koepel Martone & Leistman LLP and the appointment of Elaine Jackson Stack as director at the Hofstra University School of Law in New York. It states that the law firms aims to address issues on tax assessment and property condemnation through the development of an effective certiorari law. Meanwhile, Stack will serve at the University's Master's Degree Program in Family Law.

Comments on the solution to the logjam of property tax certiorari cases confronting Nassau County in New York. Suggestion on the hiring of appraisers to debate the merits of a property owner's demand for lower tax assessment; Absence of qualified appraisers; Shortage of political decision to dismiss the team of appointees at the Assessment Review Board.

Reports on the lawsuit filed by the Association for a Better Long Island to block the Long Island Power Authority from settling a tax certiorari lawsuit.

The article reports on the plans of Nassau County Interim Finance Authority (NIFA) to conduct bond sale to help manage certiorari judgments and settle tax liabilities in New York. The county had an allocated budget of $50 million for certiorari payments annually in which it expects also to have the annual liabilities of more than $45 million. The primary purpose of the NIFA policy is to help the country recover from financial crisis.

Reports on the plan of the state oversight board to sign off a four-year financial plan in Nassau County, New York. Increase of the county spending; Changes in the county's executive plan; Reformation of the tax certiorari process.