Trap Rock Industries, Inc. v. Township of Franklin

This is a tax case in which defendant township appeals claiming that the judgment of the Tax Court, 4 N.J.Tax 445, is erroneous in its valuation in that there is insufficient evidence to support it.

As the taxpayer points out, Judge Conley carefully stated the bases upon which he rendered his decision. For example, he chose a capitalization rate of 10% which was advocated by both parties; he utilized a royalty per net ton valuation method which was advocated by the municipality’s expert; he found the *458testimony in support of the municipality’s 100% location premium to be “quite weak,” and he…