Legal Opinion
Elizabeth Center Apartments Urban Renewal Corp. v. City of Elizabeth
New Jersey Tax Court
Decided April 25, 2013PublishedCited by 1 opinion
1Opinion of the Court
BRENNAN, J.T.C.
This appeal concerns the impact of non-deed restrictions on the value of real property developed as low to moderate income cooperative apartment residences. For the reasons set forth herein, the court finds that the restrictions that created and continue to maintain the cooperative corporation’s real property as a source of low to moderate income housing have resulted in a unique and limited market in which to determine true value. *199When considering and applying the holdings in Prowitz v. Village of Ridgefield Park, 237 N.J.Super. 435, 568 A.2d 114 (App.Div. 1989), aff'd, 122…
2Cases cited21 opinions
- Aetna Life Insurance Co. v. City of NewarkSupreme Court of New Jersey · 1952
- Pantasote Co. v. City of PassaicSupreme Court of New Jersey · 1985
- Hackensack Water Co. v. Division of Tax AppealsSupreme Court of New Jersey · 1949
- Ford Motor Co. v. Township of EdisonSupreme Court of New Jersey · 1992
- GLENPOINTE ASS'N. v. Tp. of TeaneckNew Jersey Superior Court Appellate Division · 1990
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3Cited by1 opinion
- Elizabeth Center Apartments Urban-Renewal Corp. v. City of ElizabethNew Jersey Superior Court Appellate Division · 2014