Jaydor Corp. v. Millburn Township

This appeal involves the interpretation of N.J.S.A. 54:1-35a to - 35c (Chapter 123) and N.J.S.A. 54:51A-6, and its application to the valuation of a single parcel in a multi-parcel economic unit, where the economic unit spans two municipalities situated in two separate counties. Chapter 123 requires a comparison of two ratios: (1) a property’s assessed valuation to its true value, and (2)' the taxing district’s “average ratio” of assessed to true value of real property, as determined and published annually by the Director of the Division of Taxation. Under Chapter 123, if the subject…