Nondeed restrictions controlling the sale price of a membership certificate of a cooperative of low- to moderate-income residences present a unique market in which to determine true value.
April 30, 2013 at 05:41 AM
1 minute read
Elizabeth Center Apartments Urban Renewal Corporation v. City of Elizabeth, No. 000892-2006; Tax Court; opinion by Brennan, J.T.C.; decided and approved for publication April 25, 2013. DDS No. 35-5-9764 [18 pp.]
This appeal concerns the impact of nondeed restrictions on the value of real property developed as low- to moderate-income cooperative apartment residences.
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