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Scotch Plains

Mar 22, 2017

Face Time Critical for Appraisers of Real Property

A recent New Jersey Tax Court opinion highlighted the need for expert witnesses to verify the integrity and accuracy of the market data that forms the basis their opinions; otherwise, the opinions are entitled to little weight. In VBV Realty LLC v. Scotch Plains Township, plaintiff’s appraiser employed the income capitalization and sales comparison approaches to derive an opinion of value for the subject property as of the respective valuation dates.» Read More