Legal Opinion
Laneco Three, Inc. v. Township of Franklin
New Jersey Tax Court
Decided March 20, 1998PublishedCited by 2 opinions
1Opinion of the Court
AXELRAD, J.T.C.
In this matter taxpayer seeks a reduction in its local property tax assessments for the 1995 and 1996 tax years, for its community shopping center known as “Laneco Plaza.” The subject property is located at 1 Pittstown Road, Franklin Township, Hunterdon County, New Jersey (Block 5, Lot 20) on 36.51 acres in a commercial zone.
The subject property was assessed for each of the tax years as follows:
Land $ 2,000,000
Improvement 14,000,000
Total $16,000,000
The relevant common level ratios of assessment to true value of the Director of the Division of Taxation for Franklin Township…
2Cases cited5 opinions
- Harrison Realty Corp. v. Town of HarrisonNew Jersey Tax Court · 1997
- Harrison Realty Corp. v. Town of HarrisonNew Jersey Superior Court Appellate Division · 1997
- United Jersey Bank v. Lincoln Park BoroughNew Jersey Tax Court · 1991
- Pine Plaza Associates, L.L.C. v. Hanover TownshipNew Jersey Tax Court · 1996
- Gabrellian & Jessourian Associates v. Borough of OaklandNew Jersey Tax Court · 1990
3Cited by2 opinions
- City of Atlantic v. Ace Gaming, LLCNew Jersey Tax Court · 2006
- Midlantic Operating Admin. v. West Caldwell TownshipNew Jersey Tax Court · 2002