Newton Town v. Newton Medical Building

LASSER, P.J.T.C.

Following trial in the above matter the court, in a bench opinion, decided that the value of the subject property for the years 1991, 1992 and 1993 was $3,639,400. The property, a medical office building, was assessed originally at $3,473,100 for 1991 and $3,013,200 for 1992 and 1993. Counsel were given an opportunity *464after trial to address the issue of whether the assessments may be increased for each of the three years in issue.

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Taxpayer contested the 1991 assessment before the Sussex County Board of Taxation, which resulted in a judgment reducing the 1991 assessment from…