BASF Corp. Coating & Ink Division v. Belvidere Town

KUSKIN, J.T.C.

Plaintiff, BASF Corporation, Coating and Ink Division, has appealed the property tax assessments for tax year's 2004, 2005 and 2006 on its property in the Town of Belvidere, Warren County. The property is designated on the Town Tax Map as Block 1, Lots 5, 5.02, 5.03, 5.05 and 28. For each of the years under appeal, the aggregate assessment on the five lots under appeal was $9,500,000 allocated $1,669,650 to land and $7,830,350 to improvements. The Chapter 123 Ratios, determined pursuant to N.J.S.A 54:1-35a to -35c, were 80.58% for tax year 2004, 71.27% for tax year 2005, and…