Newark Loses Dispute Over NJ Township’s Property Tax Valuation

Newark, N.J., isn’t entitled to a reduced property tax assessment on land it owns in a nearby town despite restrictions on the land’s future development, the state appeals court ruled Monday.

The city told the court the land it owned in West Milford Township, N.J., was so limited by legal restrictions and conservation easements that it had nearly no taxable value. The New Jersey Superior Court, Appellate Division disagreed, finding the land’s highest and best use was for conservation and could be valued accordingly.

Newark owns over 16,000 wooded acres in West Milford as a buffer for the city’s ...