Continental Purchasing Co. v. City of Newark

Quinn, President.

Petitioner appeals from a judgment of the Essex County Board of Taxation which affirmed an assessment levied upon it for personal property taxes for the year 1938 in the sum of $10,000. The company is in the business of purchasing and liquidating commercial accounts receivable, generally acquired by petitioner from insolvent concerns. At the outset of the hearing petitioner made an application in the nature of a motion for summary judgment on the ground that this board had adjudged its personal property taxable for the prior year, 1937, at $356.55, being the true value of its…