BASF Wins Tax Abatement On NJ Enviro Remediation

Law360, New York (December 6, 2013, 2:30 PM EST) -- The New Jersey Tax Court said Friday that BASF Corp., the owner of a partially contaminated property, could deduct its remediation cost from the entire parcel's property tax bill, rejecting a local town's argument that deductions only apply to the polluted portions of the land.

In granting BASF's summary judgment motion, Presiding Judge Patrick DeAlmeida said the value of the entire parcel was affected by contamination on separate parts of the property and the Township of Toms River could not parse out portions of the land...
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