City of Jersey City v. Lehigh Valley Railroad Co.

The opinion of the court was delivered by

Wachenfeld, J.

These are 15 consolidated appeals from the Division of Tax Appeals in the Treasury Department certified here on our own motion. They involve the assessments on three parcels of land located within the waterfront terminal of the Lehigh Yalley Railroad, commonly known as the “Black Tom” terminal, in Jersey City, and relate to the five years 1946 to 1950, inclusive.

Many years ago, National Storage Company, a wholly owned subsidiary of the railroad, acquired a waterfront tract of approximately 91 acres. Most of the land was leased to-the…