Allowing for entrepreneurial profit, physical depreciation and functional obsolescence, but disallowing economic obsolescence, the Tax Court reduces the challenged assessments on the subject nursing home.
February 05, 2013 at 04:35 AM
1 minute read
Regent Care Center Inc. v. Hackensack, Nos. 004748-2007, 004605-2008, 004972-2009, 006814-2010; Tax Court; opinion by Andresini, J.T.C.; decided and approved for publication January 28, 2013. DDS No. 35-5-8884 [22 pp.]
Regent Care Center Inc., the owner of a nursing home built in 1988 in Hackensack, challenges the assessments on the property for tax years 2007, 2008, 2009 and 2010.
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