NJ Utility Can't Cut Property Tax Over Contamination Costs

Law360, New York (January 14, 2014, 2:14 PM EST) -- The Tax Court of New Jersey on Friday refused to slash property taxes imposed on Atlantic City Electric Co. by Salem County in 2005 and 2006, saying experts for both sides failed to give reliable testimony regarding environmental contamination's effects on land value.

After reviewing extensive trial testimony, Judge Patrick DeAlmeida found experts for both sides went off the rails when determining property value for the site of a coal power plant, pointing out that ACEC and Salem County had a $15 million discrepancy between their proposed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.