Southbridge Park, Inc. v. Fort Lee Borough

HOPKINS, J.T.C.

This matter involves an appeal and counterclaim with respect to the judgment of the Bergen County Board of Taxation for tax year 1980 and a direct appeal for tax year 1981. Both appeals relate to local property tax assessments on property designated as Block 3203, Lot 1 in the taxing district of Fort Lee.

The assessments and the 1980 county board judgment, together with the parties’ alleged values, are as follow:

Tax Year Assessment County Board Judgment Borough's Value Taxpayer’s Value

1980 $31,168,700 $26,668,700 $32,250,000 $22,287,100

1981 31,168,700 None 38,725,000 23,390,700

Th…