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)
154 Green Chadwick A/154 Chadwick Avenue/2687/45/South/$124,700.00/2012/-$1,553.40
154 Green Chadwick A/154 Chadwick Avenue/2687/45/South/$149,000.00/2013-/$764.83
154 Green Chadwick A/154 Chadwick Avenue/2687/45/South/$149,000.00/2014/-$803.16
National Newark & Essex Bank/467-469 Central Avenue/1850/23/West/$850,000.00/2010/-$1,081.20
National Newark & Essex Bank, c/o PNC Bank/467-469 Central Avenue/1850/23/ West/ $850,000.00/ 2011/-$1,131.52
National Newark & Essex Bank, c/o PNC Bank/467-469 Central Avenue/1850/23/West/$850,000.00/ 2012/-$1,173.68
National Newark & Essex Bank, c/o PNC Bank/467-469 Central Avenue/1850/23/West/$1,320,000.00/ 2014/-$3,888.65
Jose Cirqueira/32-34 Johnson Street/923/11.23/East/$238,000.00/2012-/$9,040.79
Jose Cirqueira/32-34 Johnson Street/923/11.23/East/$300,000.00/2013/-$888.85
Jose Cirqueira/32-34 Johnson Street/923/11.23/East/$300,000.00/2014/-$933.40
Jose Cirqueira/32-34 Johnson Street/923/11.23/East/$300,000.00/2015/-$996.01
AAAJ Realty, LLC/437-441 NJRR Avenue/1192/1/East/$111,900.00/2009/$0.00
AAAJ Realty, LLC /437-441 NJRR Avenue/1192/1/East/$111,900.00/2010/$0.00
AAAJ Realty, LLC /437-441 NJRR Avenue/1192/1/East/$111,900.00/2012/$0.00
AAAJ Realty, LLC /144-154 Astor Street/1192/9/East/$98,900.00/2009/-$2,465.10
AAAJ Realty, LLC /144-154 Astor Street/1192/9/East/$98,900.00/2010/-$2,862.00
AAAJ Realty, LLC /144-154 Astor Street/1192/9/East/$98,900.00/2011/-$2,995.20
AAAJ Realty, LLC /144-154 Astor Street/1192/9/East/$98,900.00/2012/-$3,106.80
AAAJ Realty, LLC /156-160 Astor Street/1192/16/East/$129,800.00/2009/-$821.70
AAAJ Realty, LLC /156-160 Astor Street/1192/16/East/$129,800.00/2010/-$954.00
AAAJ Realty, LLC /156-160 Astor Street/1192/16/East/$129,800.00/2011/-$998.40
AAAJ Realty, LLC /156-160 Astor Street/1192/16/East/$129,800.00/2012/-$1,035.60
AAAJ Realty, LLC /134 Emmet Street/1192/34/East/$27,500.00/2009/$0.00
AAAJ Realty, LLC /134 Emmet Street/1192/34/East/$27,500.00/2011/$0.00
AAAJ Realty, LLC /429 NJRR Avenue/1192/41/East/$90,000.00/2009/$0.00
AAAJ Realty, LLC /429 NJRR Avenue/1192/41/East/$90,000.00/2010/$0.00
AAAJ Realty, LLC /429 NJRR Avenue/1192/41/East/$90,000.00/2011/$0.00
AAAJ Realty, LLC /429 NJRR Avenue/1192/41/East/$90,000.00/2012/$0.00
AAAJ Realty, LLC /431-435 NJRR Avenue/1192/42/East/$129,000.00/2009/-$547.80
AAAJ Realty, LLC /431-435 NJRR Avenue/1192/42/East/$129,000.00/2010/-$636.00
AAAJ Realty, LLC /431-435 NJRR Avenue/1192/42/East/$129,000.00/2011/-$665.60
AAAJ Realty, LLC /431-435 NJRR Avenue/1192/42/East/$129,000.00/2012/-$690.40
329-331 Park Avenue LLC/326-328 Park Avenue/1928/69/Central/$315,500.00/2011/-$3,328.00
329-331 Park Avenue LLC/326-328 Park Avenue/1928/69/Central/$315,500.00/2012/-$3,452.00
329-331 Park Avenue LLC/326-328 Park Avenue/1928/69/Central/$492,800.00/2013/-$8,649.34
Chadwick Realty LLC/212-214 Chadwick Avenue/2708/46/South/$340,000.00/2013/-$5,480.77
Chadwick Realty LLC/212-214 Chadwick Avenue/2708/46/South/$312,100.00/2014/-$3,101.00
Chadwick Realty LLC/212-214 Chadwick Avenue/2708/46/South/$312,100.00/2015/-$3,309.00
LT Associates LLC/510 S 16th Street/333/54/West/$20,000.00/2014/-$341.11
LT Associates LLC/510 S 16th Street/333/54/West/$20,000.00/2015/-$363.99
LT Associates LLC/532-536 S 16th Street/333/65/West/$30,000.00/2014/-$201.57
LT Associates LLC/532-536 S 16th Street/333/65/West/$30,000.00/2015/-$215.09
LT Associates LLC/116 Littleton Avenue/258/20/West/$20,000.00/2014/-$195.36
LT Associates LLC/116 Littleton Avenue/258/20/West/$20,000.00/2015/-$208.47
LT Associates LLC/404 S 11th Street/266/26/West/$20,000.00/2014/-$313.20
LT Associates LLC/404 S 11th Street/266/26/West/$20,000.00/2015/-$334.21
Marcelo Ortega/336-346 6th Avenue, West/1921/63/West/$725,200.00/2014/-$8,031.59
APD Real Estate LLC/2-14 Ferry Street/178/48/East$1,342,800.00/2011/-$12,227.07
APD Real Estate LLC/2-14 Ferry Street/178/48/East$1,360,000.00/2012/-$12,088.90
APD Real Estate LLC/2-14 Ferry Street/178/48/East$2,000,000.00/2013/-$45,299.02
APD Real Estate LLC/2-14 Ferry Street/178/48/East$1,785,500.00/2014/-$22,156.65
APD Real Estate LLC/2-14 Ferry Street/178/48/East$1,785,500.00/2015/-$23,642.81
APD Real Estate LLC/2-14 Ferry Street/178/48/East$1,785,500.00/2016 (F)/-$24,578.80
Kenny Cheng/307 Lyons Avenue/3051/30/South$250,000.00/2014/-$2,226.52
Kenny Cheng/307 Lyons Avenue/3051/30/South$250,000.00/2015/-$2,375.86
ZM Brookdale LLC/110 Brookdale Avenue/4063.01/68/West/$109,700.00/2014/-$778.35
ZM Brookdale LLC/110 Brookdale Avenue/4063.01/68/West/$109,700.00/2015/-$830.56
Zygal Ltd/324-332 Frelinghuysen Avenue/3520/18/South/$661,700.00/2010/-$7,950.00
Zygal Ltd/324-332 Frelinghuysen Avenue/3520/18/South/$661,700.00/2011/-$8,320.00
Zygal Ltd/324-332 Frelinghuysen Avenue/3520/18/South/$661,700.00/2012 (F)/-$8,630.00
Zygal Ltd/324-332 Frelinghuysen Avenue, Rear/3520/19/South/$883,700.00/2010/-$0.00
Zygal Ltd/324-332 Frelinghuysen Avenue, Rear/3520/19/South/$883,700.00/2011/-$0.00
Zygal Ltd/324-332 Frelinghuysen Avenue, Rear/3520/19/South/$883,700.00/2012 (F)/-$0.00
Zygal Ltd/334 Frelinghuysen Avenue/3520/20/South/$104,600.00/2010/$0.00
Zygal Ltd/334 Frelinghuysen Avenue/3520/20/South/$104,600.00/2011/$0.00
Zygal Ltd/334 Frelinghuysen Avenue/3520/20/South/$104,600.00/2012 (F)/$0.00
Eureka Spring Co Inc/9-23 Manufacturers Place/2479/52/East/$475,000.00/2013/-$5,914.86
875-881 Broad Street LLC/875-887 Broad Street/93/1/Central/875-881 Broad Street/$3,500,000.00/2013/-$21,698.64
875-881 Broad Street LLC/875-887 Broad Street/93/1/Central/875-881 Broad Street/$3,000,000.00/2014/-$38,291.15
875-881 Broad Street LLC/875-887 Broad Street/93/1/Central/875-881 Broad Street/$2,750,000.00/2015/-$49,132.03
875-881 Broad Street LLC/875-887 Broad Street/93/1/Central/875-881 Broad Street/$2,750,000.00/2016/-$51,077.12
229 N. Grove Street c/o Antos Lending/478 S 17th Street/327/50/West$211,000.00/2010/-$1,004.88
229 N. Grove Street c/o Antos Lending/478 S 17th Street/327/50/West$211,000.00/2011/-$1,051.65
229 N. Grove Street c/o Antos Lending/478 S 17th Street/327/50/West$211,000.00/2012/-$1,090.83
Additional Information:
Total Tax Difference: -$417,924.49
Invitation: Corporation Counsel, January 4, 2017
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, dated December 14, 2016; 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 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 of the City of Newark be and is hereby authorized to execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, dated December 14, 2016, 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 Finance.
STATEMENT
This resolution authorizes the execution of a Stipulation of Settlement with regard to Tax Appeals on properties set forth in Schedule A, dated December 14, 2016.