The Presbyterian Home at Pennington v. Borough of Pennington, A-6061-06T1; Appellate Division; opinion by Cuff, P.J.A.D.; decided and approved for publication August 10, 2009. Before Judges Cuff, Fisher and Baxter. On appeal from the Tax Court of New Jersey, Nos. 2348-2002; 4027-2003; 5159-2004; 7504-2005, 23 N.J. Tax 473 (Tax 2007). [Sat below: Judge Menyuk.] DDS No. 35-2-4943 [38 pp.]
Plaintiff, The Presbyterian Home at Pennington Inc. (PHP), is a nonprofit corporation affiliated with Presbyterian Homes and Services (PHS), which also is a nonprofit corporation. On Oct. 1, 2001, PHP purchased Stony Brook Assisted Living in Pennington. Stony Brook had been organized as a for-profit organization but had not commenced operation prior to its sale to PHP. PHP applied for tax-exempt status for the tax year 2002. Defendant borough of Pennington denied PHP’s application for tax exempt status. Pennington assessed the property’s value at $1,042,800 for land and $8,286,200 for improvements; the tax calculated was $74,860.41.
