Vexing Villa—Vernon Hill, the founder of Commerce Bank, will have to live with the Township of Moorestown’s $21 million assessment of his Italianate estate, the New Jersey Superior Court has ruled.
In a per curiam Aug. 27 opinion, Judges William E. Nugent and Allison E. Accurso upheld the Tax Court’s ruling in Hill v. Township of Moorestown, affirming the township’s assessment of Hill’s seven-acre home. Hill argued that the court should have rejected the township’s experts because they were contractually obligated to defend their appraisal in challenges to a 2008 revaluation. The Superior Court said his argument “borders on the frivolous.”
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