Transcontinental Gas Pipe Line Corp. v. Bernards Township

LANDAU, J.S.C.

(temporarily assigned), dissenting.

I read the majority opinion to affirm the Tax Court’s judgments respecting the assessments, but to hold only that taxpayers failed to meet their burden of overcoming the presumption of correct assessment. I applaud the fact that the majority has not endorsed the Tax Court opinion in Transcon. Gas Pipe Line v. Bernard Tp., 7 N.J.Tax 508 (Tax Ct.1985), to the extent it has rejected entirely consideration of the value of a local pipeline segment as part of a complete gas transmission entity and has adopted current replacement cost less…