LANECO THREE, INC. v. TP. OF FRANKLIN

AXELRAD, J.T.C.

In this matter taxpayer seeks a reduction in its local property tax assessments for the 1995 and 1996 tax years, for its community shopping center known as "Laneco Plaza." The subject property is located at 1 Pittstown Road, Franklin Township, Hunterdon County, New Jersey (Block 5, Lot 20) on 36.51 acres in a commercial zone.

The subject property was assessed for each of the tax years as follows:

      Land             $ 2,000,000...

                    
                    
                    

                        

                            

                                

                            
                            

                                

                                    

                                        

                                        

                                        

                                    
                                
                                

                                    
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