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)
Bsd103, LLC/3053/20/17 Willoughby Street/South/2024/$262,500/-$4,038.79
Saint Clare Homes Property, Inc/3697/70/139-141 Weequahic Avenue/South/2014/$0/-$5,014.32
Saint Clare Homes Property, Inc/3697/70/139-141 Weequahic Avenue/South/2015/$0/-$5,350.65
Valley National Bank/535/14/276 Clifton Avenue/North/2018/$65,900/-$0.00
Valley National Bank/535/14/276 Clifton Avenue/North/2019/$65,900/-$0.00
Valley National Bank/535/14/276 Clifton Avenue/North/2020/$65,900/-$0.00
Valley National Bank/535/14/276 Clifton Avenue/North/2021/$65,900/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2018/$59,800/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2019/$59,800/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2020/$59,800/-$0.00
Valley National Bank/535/16/274 Clifton Avenue/North/2021/$59,800/-$0.00
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2018/$616,600/-$0.00
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2019/$616,600/-$0.00
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2020/$616,600/-$0.00
Valley National Bank/535/18/171-173 Bloomfield Avenue/North/2021/$536,700/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2018/$36,400/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2019/$36,400/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2020/$36,400/-$0.00
Valley National Bank/535/20/177 Bloomfield Avenue/North/2021/$36,400/-$0.00
Valley National Bank/535/21/179 Bloomfield Avenue/North/2018/$60,400/-$0.00
Valley National Bank/535/21/179 Bloomfield Avenue/North/2019/$60,400/-$0.00
Valley National Bank/535/21/179 Bloomfield Avenue/North/2020/$60,400/-$0.00
Valley National Bank/535/21/179 Bloomfield Avenue/North/2021/$60,400/-$0.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2018/$138,400/-$3,693.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2019/$138,400/-$3,761.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2020/$138,400/-$3,800.00
Valley National Bank/535/46/175 Bloomfield Avenue/North/2021/$208,300/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2018/$22,500/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2019/$22,500/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2020/$22,500/-$0.00
Valley National Bank/535/47/179 Bloomfield Avenue/North/2021/$22,500/-$0.00
Additional Information:
Total refunds: $25,657.76
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, August 2026 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, 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 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, August 2026 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 Finance.
STATEMENT
This Resolution authorizes the Corporation Counsel, or his designee, to execute a Stipulation of Settlement with regard to Tax Appeals on certain properties set forth in Schedule A, August 2026 Refunds.