City of Newark v. Essex County Board of Taxation
City of Newark v. Essex County Board of Taxation
Opinion of the Court
The judgment of the Appellate Division is modified in accordance with our decision in City of Trenton v. Mercer County Bd. of Taxation, 66 N. J. 470, decided by us this day, in which we held that no basis had been shown for excluding E.H.A. financed sales as a class from a sales-ratio study in establishing a county equalization table for the apportionment of county taxes among the taxing districts of Mercer County.
We also held that once the sales price in an E.H.A. financed sale is shown to have been substantially distorted by extraordinary charges so that it does not reflect the true consideration for the property as between buyer and seller, no adjustment of the sales price should be attempted and the sale should be discarded and not used in the sales-ratio study
As modified, remanded.
For modification and remandment — Chief Justice Hughes, Justices Mountain, Sullivan, Pashman and Clieeobd and Judge Collestee — 6.
Opposed — -None.
Reference
- Full Case Name
- CITY OF NEWARK, RESPONDENT-CROSS-APPELLANT v. ESSEX COUNTY BOARD OF TAXATION
- Cited By
- 2 cases
- Status
- Published