Humble Oil & Refining Co. v. Borough of Englewood Cliffs

In this matter involving the correctness of an assessment for taxes on a parcel of property leased to Humble Oil and Refining Company and used as a gasoline service station, the grant of certification was limited to the issue of the correctness of the Appellate Division determination concerning the method of capitalizing net income, particularly with reference to its conformance with this Court’s decision in New Brunswick v. State of N. J. Div. of Tax Appeals, 39 N. J. 537 (1963). The parties were also requested to brief the question of prejudiciality of the Appellate Division decision if…