Gabrellian & Jessourian Associates v. Borough of Oakland

CRABTREE, J.T.C.

This is a local property tax case wherein plaintiff seeks direct review, pursuant to N.J.S.A. 54:3-21, of the 1988 assessment on its property located at 345-349 Ramapo Valley Road, Oakland, New Jersey (Block 2318, Lot 10). The assessment was:

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At issue are the true value of the subject property and the applicability of N.J.S.A. 54:51A-6, commonly referred to as chapter 123. The year 1988 was not a revaluation year.

The subject of the controversy is a neighborhood shopping center containing a Sears Roebuck & Co. outlet store (21,700 square feet), a free-standing…