NJ Court Says $1.8M Is A Fair Price For Seized Landfill

Law360 (April 9, 2020, 8:30 PM EDT) -- The New Jersey state appeals court affirmed Thursday that $1.8 million is a fair price for a state planning and zoning agency to pay the town of Kearny for a landfill parcel, rejecting the town's argument that the property's revenue potential made it worth far more.

A three-judge Appellate Division panel rejected a Kearny appraiser's opinion that the property could generate between $14 million and $16 million over the next seven years under a new owner, siding with a lower court's reasoning that there was no evidence private buyers were scrambling to buy garbage dumps. The New Jersey Sports and Exposition...

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