Bestfoods v. Englewood Cliffs Borough

Plaintiff, Bestfoods (f/k/a CPC International, Inc.), filed an appeal with the Tax Court of New Jersey on March 29, 1998, challenging the local property tax assessment for 1998 placed on its corporate headquarters by defendant, Borough of Englewood Cliffs. The complaint, filed pursuant to N.J.S.A. 54:3-21, challenged the assessment of the property, located at 680-700 Sylvan *238Avenue, N.J.S.A. 54:51A-6. Following a five day trial in the Tax Court, judgment was entered for an aggregate assessment of $28,335,700. Plaintiff filed this appeal on April 12, 2001, and defendant cross-appealed on April…