Glenpointe Associates v. Township of Teaneck

Plaintiff Glenpointe Associates is the owner of a mixed use development in Teaneck in which the East Office Building is located. On October 1, 1983, the assessing date for 1984, the East Office Building was incomplete. The property was assessed for 1984, as of the October 1, 1983 assessment date, at $13,757,500 ($251,500 for land, $13,506,000 for improvements). As of October 1, 1984, the building was substantially complete for its intended use. It was assessed as of that date for 1985 at $15,687,500 ($251,500 for land, $15,436,000 for improvements). On October 1, 1985, the assessor levied an…