Board of Commissioners of Hoboken v. State Board of Taxes & Assessments

The opinion of the court was delivered by

Lloyd, J.

The certiorari in this case is to review the action of the state board of taxes in reducing an assessment made by the board of assessors of the city of Hoboken against the Hoboken Bank for Savings in that city on personal property owned by the bank. The city assessors had made an assessment on $300,000 as moneys oh hand October 1st, 1927. The state board reduced this to $191,264, the amount actually then possessed by the bank.

The prosecutor does not contend that the assessment did not truly appraise the moneys actually held on the day in…