New Jersey Tax Court September 26, 1988 (Thomas J. Lipton, Inc. v. Raritan Township)

LASSER, P.J.T.C.

Taxpayer contests the 1987 real property tax assessment on an industrial property located on Route 523 in Raritan Township, and shown as Block 17, Lot 3 on the tax map of the taxing district. The assessment in issue is:

Land $ 1,951,500

Improvements 15,011,900

Total $16,963,400

Taxpayer has appealed directly to the Tax Court pursuant to N.J.S.A. 54:3-21.