Jacobs, Donges and Bigelow. The opinion of the court was delivered by Donges, J.A.D.
[5 NJSuper Page 157] The appellant, the Township of Weehawken in the County of Hudson appeals from seven judgments rendered by the Division of Tax Appeals reducing assessments levied for the years 1946 and 1947 on two parcels of property known respectively as Block 36, Lot 6, Canal Basin and Block 45, Lots A2 to G2 and A3 to G3. By order
of the court the appeals were consolidated and heard together as one appeal.
The property is owned by the New York State Realty & Terminal Company, a wholly owned subsidiary of the New York Central Railroad system, and adjoins or is contiguous with the second class lands of that railroad.
Block 36, Lot 6, Canal Basin is located approximately opposite West 34th Street, New York City. This tract containing 29.48 acres was assessed by the assessor for the year 1945 at a valuation of land, $1,194,400. (There is also an improvement assessment of $20,000 which is not involved in this appeal.) The respondent appealed to the Hudson County Board of Taxation which reduced the land assessment to $943,400, which assessment was affirmed by the State Board.
For the year 1946, the property was again assessed at land $1,194,400. On appeal by respondent, the County Board reduced the land assessment to $943,400. The Division of Tax Appeals by its judgment, which is under appeal herein, further reduced the land assessment to $806,400.
For 1947, the property was again assessed at land $1,194,400. On appeal by the respondent, the County Board affirmed the assessment. The Division of Tax Appeals again reduced the land assessment to $806,400.
The State Board fixed the value of this land at $28,000 per acre.
Lots A2 to G2 are waterfront lots containing 52.632 acres. The property has a frontage of 2078.48 feet along the bulkhead line, with an average depth of 1170 feet and is bounded on the west by second class railroad lands, and on the east by the pier head line of the Hudson River.
Lots A3 to G3 is an upland parcel lying on the hillside west of the railroad right of way. The assessed value of $42,000 was affirmed by the State Board and no appeal was taken therefrom.
However, lots A2 to G2 were assessed for each of the years 1946 and 1947 at $1,995,200 and lots A3 to G3 were valued separately at $42,000. The respondent filed one appeal and the County Board filed one judgment, reducing the total assessment
from $2,037,200 to $1,775,700 and the State Board further reduced the assessments to $1,569,900 (of which $42,000 is allocable to the hillside lands ...