City of New Brunswick v. State of New Jersey Division of Tax Appeals

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that tax assessment valuation requires the use of fair market rent rather than actual lease rent
• noting that “the inquiry relates to what investors in property of this kind in fact do demand and do obtain in deals with willing sellers”
• agreeing with expert’s “hybrid approach” which comprised of the cost approach for the anchor stores and income approach for the remaining stores/tenant improvements
• noting the inability of the assessment process to be “acutely sensitive” to minor fluctuations in rates of return and stating that “[t]he rate of return should reflect conditions for a reasonable span of years.” Id. At 550.
• applying common sense of the situation

Source: CourtListener parenthetical corpus (CC0).