Legal Opinion
Chesterfield Associates v. Edison Township
New Jersey Tax Court
Decided April 26, 1993PublishedCited by 2 opinions
1Opinion of the Court
ANDREW, J.T.C.
The overriding issue in this local property tax case is one of valuation and requires a determination of which appraisal technique presents the most reliable estimate of the fair market value for property tax assessment purposes for each of 95 townhouses. The Edison Township tax assessor maintains that the sales com*199parison approach is the most convincing, while the taxpayer’s appraisal expert contends that a hybrid income and sales comparison approach would provide the most appropriate method for estimating the value of each of the townhouses.
The properties involved in this…
2Cases cited17 opinions
- First Interstate Bank v. Department of RevenueOregon Supreme Court · 1988
- Lawrence Associates v. Lawrence TownshipNew Jersey Tax Court · 1983
- CPC Int'l, Inc. v. Bor. of Englewood CliffsNew Jersey Superior Court Appellate Division · 1984
- Berkley Arms Apartment Corp. v. Hackensack CityNew Jersey Tax Court · 1983
- Frieman v. Randolph Tp.New Jersey Superior Court Appellate Division · 1987
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3Cited by2 opinions
- County of Monmouth v. HiltonNew Jersey Superior Court Appellate Division · 2000
- Tamburelli Properties Ass'n v. Borough of CresskillNew Jersey Superior Court Appellate Division · 1998