Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Stipulation of Settlements for Tax Appeals
List of Property:
(Tax Payer/Address/Block/Lot/Ward/Assmnt./Year/Refund Amount)
Rutgers State University/63/60/180-190 Washington Street/Central/2013/$8,516,500/-$0.00
Rutgers State University/63/60/180-190 Washington Street/Central/2014/$7,282,800/-$38,257.04
Rutgers State University/63/60/180-190 Washington Street/Central/2015/$7,482,800/-$34,205.13
Rutgers State University/63/60/180-190 Washington Street/Central/2016/$7,682,800/-$28,679.28
Rutgers State University/63/60/180-190 Washington Street/Central/2017/$572,000/-$282,824.20
Rutgers State University/63/67/178 Washington Street/Central/2013/$217,000/-$0.00
Rutgers State University/63/67/178 Washington Street/Central/2014/$217,200/-$0.00
Rutgers State University/63/67/178 Washington Street/Central/2015/$217,200/-$0.00
Rutgers State University/63/67/178 Washington Street/Central/2016/$217,200/-$0.00
Rutgers State University/63/67/178 Washington Street/Central/2017/$217,200/-$0.00
Penn Federal Savings Bank/960/3/198 Jefferson Street/East/2013/$781,600/-$0.00
Penn Federal Savings Bank/960/3/198 Jefferson Street/East/2014/$650,000/-$4,080.92
Penn Federal Savings Bank/960/3/198 Jefferson Street/East/2016/$650,000/-$4,527.04
Penn Federal Savings Bank/960/3/198 Jefferson Street/East/2017/$650,000/-$4,684.96
Penn Federal Savings Bank/960/3/198 Jefferson Street/East/2018/$650,000/-$4,859.99
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2013/$812,900/-$0.00
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2014/$600,000/-$1,876.11
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2015/$600,000/-$2,001.95
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2016/$600,000/-$2,081.20
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2017/$600,000/-$2,153.80
Maria Almeida (tenant Independence Community Bank)/1128.02/85/1-7 Wheeler Point Road/East/2018/$600,000/-$0.00
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2013/$2,973,700/-$0.00
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2014/$2,973,700/-$0.00
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2015/$2,750,000/-$7,402.23
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2016/$2,750,000/-$7,695.28
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2017/$2,650,000/-$11,523.72
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2018/$2,650,000/-$11,954.24
634 Frelinghuysen Assoc.; Starr/3791/114/21-25 Haynes Avenue/South/2019/$2,650,000/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen/South/2013/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen Avenue/South/2014/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen Avenue/South/2015/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen Avenue/South/2016/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen Avenue/South/2017/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/30/317-321 Frelinghuysen Avenue/South/2018/$110,300/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen/South/2013/$839,100/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen Avenue/South/2014/$839,100/-$0.00
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen Avenue/South/2015/$700,000/-$4,602.82
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen Avenue/South/2016/$700,000/-$4,785.04
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen Avenue/South/2017/$650,000/-$6,731.96
Frelinghuysen Newark Corp; AMG Resources Newark, LLC/3538/34/323-327 Frelinghuysen Avenue/South/2018/$625,000/-$7,906.71
Valley National Bank/535/14/276 Clifton Avenue/North/2015/$65,900/-$0.00
Valley National Bank/535/14/276 Clifton Avenue/North/2016/$65,900/-$0.00
Valley National Bank/535/14/276 Clifton Avenue/North/2017/$65,900/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2015/$59,800/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2016/$59,800/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2017/$59,800/-$0.00
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2015/$616,600/-$22,570.69
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2016/$616,600/-$23,464.24
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2017/$616,600/-$24,282.76
Valley National Bank/535/20/177 Bloomfield Avenue/North/2015/$36,400/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2016/$36,400/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2017/$36,400/-$0.00
Valley National Bank/535/21/179- Bloomfield Avenue/North/2015/$60,400/-$0.00
Valley National Bank/535/21/179- Bloomfield Avenue/North/2016/$60,400/-$0.00
Valley National Bank/535/21/179- Bloomfield Avenue/North/2017/$60,400/-$0.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2015/$238,400/-$6,618.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2016/$238,400/-$6,880.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2017/$238,400/-$7,120.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2015/$22,500/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2016/$22,500/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2017/$22,500/-$0.00
814 Broadway Realty/821/23/814-824 Broadway/North/2013/$831,600/-$0.00
814 Broadway Realty/821/23/814-824 Broadway/North/2014/$831,600/-$0.00
814 Broadway Realty/821/23/814-824 Broadway/North/2016/$831,600/-$0.00
814 Broadway Realty/821/23/814-824 Broadway/North/2017/$750,000/-$2,904.96
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2014/$4,300,000/-$0.00
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2015/$4,300,000/-$0.00
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2016/$4,300,000/-$0.00
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2017/$4,300,000/-$0.00
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2018/$4,300,000/-$0.00
Mt. Prospect Estates/626/4/417-427 Mount Prospect Avenue/North/2019/$4,000,000/-$11,283.00
Christian Saguay & Marly Mattos/923/11.13/43 Vesey Street/East/2022/$339,800/-$5,734.76
Christian Saguay & Marly Mattos/923/11.13/43 Vesey Street/East/2023/$339,800/-$5,722.48
Additional Information:
Total refunds: $589,414.51
body
WHEREAS, there are now pending before the Tax Court of New Jersey direct appeals challenging real property assessments and actions to review judgments of the Essex County Board of Taxation with regard to properties listed on the attached Schedule A, December 2023 Refunds; and
WHEREAS, after a review of the appraisals of both the City and the taxpayer and an analysis of prior County Board and Tax Court actions as they affect these properties, and after careful consideration of these facts, it is the opinion of the Tax Assessor and the Corporation Counsel, and/or his designee, (“Outside Counsel”) that these settlements are in the best interests of the City of Newark.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel be and is hereby authorized to enter into and execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, December 2023 Refunds, after receipt of all documents deemed appropriate.
2. The City Clerk shall serve a copy of this Resolution upon the Tax Assessor, Corporation Counsel and the Director of the Department of Finance.
STATEMENT
This Resolution authorizes the Corporation Counsel, and/or his designee, Outside Counsel to enter into and execute a Stipulation of Settlement with regard to Tax Appeals on certain properties set forth in Schedule A, December 2023 Refunds.