File #: 13-0521    Version: 1 Name: Tax Appeal Stipulation of Settlement
Type: Resolution Status: Filed
File created: 3/13/2013 In control: Finance
On agenda: 8/7/2013 Final action: 8/7/2013
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) 875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2009/-$4,574.13 875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2010/-$5,310.60 875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2011/-$5,557.76 875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2012/-$5,764.84 1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2009/-$3,516.88 1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2010/-$4,083.12 1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2011/-$4,273.15 1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2012/-$4,432.37 Aelaei Ali et al./169-171 Frelinghuysen Avenue/2770/7/South/$310,900/2008/$0.00 Aelaei Ali et al./169-171 Frelinghuysen Avenue/2770/7/South/$310,...
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)
875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2009/-$4,574.13
875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2010/-$5,310.60
875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2011/-$5,557.76
875-887 Broad Street, LLC/875-881 Broad Street/93/1/Central/$1,767,000/2012/-$5,764.84
1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2009/-$3,516.88
1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2010/-$4,083.12
1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2011/-$4,273.15
1188 Raymond, LLC/726 Broad Street/144/1/East/$963,400/2012/-$4,432.37
Aelaei Ali et al./169-171 Frelinghuysen Avenue/2770/7/South/$310,900/2008/$0.00
Aelaei Ali et al./169-171 Frelinghuysen Avenue/2770/7/South/$310,900/2009/$0.00
Aelaei Ali et al./169-171 Frelinghuysen Avenue/2770/7/South/$310,900/2010/-$346.62
Aidil Urban Renewal Corporation/277-283 Wilson Avenue/2084/12/East/$213,500/2009/-$410.85
Aidil Urban Renewal Corporation/277-283 Wilson Avenue/2084/12/East/$213,500/2010/-$477.00
Aidil Urban Renewal Corporation/277-283 Wilson Avenue/2084/12/East/$213,500/2011/-$499.20
Aidil Urban Renewal Corporation/277-283 Wilson Avenue/2084/12/East/$213,500/2012/-$517.80
Aidil Investment Co., Inc. ℅ E. Cruz/285-293 Wilson Avenue/2084/46/East/$386,500/2009/-$2,054.25
Aidil Investment Co., Inc. ℅ E. Cruz/285-293 Wilson Avenue/2084/46/East/$386,500/2010/-$2,385.00
Aidil Investment Co., Inc. ℅ E. Cruz/285-293 Wilson Avenue/2084/46/East/$386,500/2011/-$2,496.00
Aidil Investment Co., Inc. ℅ E. Cruz/285-293 Wilson Avenue/2084/46/East/$386,500/2012/-$2,589.00
Chestnut & Jefferson, LLC/256-264 Chestnut Street/956/11.03/East/$1,240,100/2009/-$5,480.74
Chestnut & Jefferson, LLC/256-264 Chestnut Street/956/11.03/East/$1,240,100/2010/-$6,363.18
Chestnut & Jefferson, LLC/256-264 Chestnut Street/956/11.03/East/$1,240,100/2011/-$6,659.33
Chestnut & Jefferson, LLC/256-264 Chestnut Street/956/11.03/East/$1,240,100/2012/-$6,907.45
Home Depot #980/399-425 Springfield Avenue/2601/7.01/Central/$11,701,000/2009/-$23,993.64
Home Depot #980/399-425 Springfield Avenue/2601/7.01/Central/$11,701,000/2010/-$27,856.80
Home Depot #980/399-425 Springfield Avenue/2601/7.01/Central/$11,701,000/2011/-$29,153.28
Home Depot #980/399-425 Springfield Avenue/2601/7.01/Central/$11,701,000/2012/-$30,239.52
Jelliff Avenue, LLC/292-392 Jelliff Avenue/2691/33/South/$425,000/2008/-$1,039.60
Lopez, Benito/21-23 Prospect Street/177/33/East/$884,200/2009/-$0.00
Lopez, Benito/21-23 Prospect Street/177/33/East/$884,200/2010/-$2,677.56
Lopez, Benito/21-23 Prospect Street/177/33/East/$884,200/2011/-$2,802.18
Lopez, Benito/21-23 Prospect Street/177/33/East/$884,200/2012/-$2,906.58
McDonald's Corporation (R. Madan)/621-635 Broadway/721.01/22/North/$1,651,900/2009/-$17,855.54
McDonald's Corporation (R. Madan)/621-635 Broadway/721.01/22/North/$1,237,800/2010/-$7,562.04
McDonald's Corporation (R. Madan)/621-635 Broadway/721.01/22/North/$1,237,800/2011/-$7,913.98
McDonald's Corporation (R. Madan)/621-635 Broadway/721.01/22/North/$1,237,800/2012/-$8,208.86
Oh, Daeki & Wonwha/6 Treat Place/57.04/103/Central/$167,000/2009/-$821.70
Oh, Daeki & Wonwha/6 Treat Place/57.04/103/Central/$167,000/2010/-$954.00
Oh, Daeki & Wonwha/6 Treat Place/57.04/103/Central/$167,000/2011/-$998.40
Oh, Daeki & Wonwha/6 Treat Place/57.04/103/Central/$167,000/2012/-$1,035.60
Oh, Daeki & Wonwha/823 Broad Street/57.04/105/Central/$650,000/2009/-$1,369.50
Oh, Daeki & Wonwha/823 Broad Street/57.04/105/Central/$650,000/2010/-$1,590.00
Oh, Daeki & Wonwha/823 Broad Street/57.04/105/Central/$650,000/2011/-$1,664.00
Oh, Daeki & Wonwha/823 Broad Street/57.04/105/Central/$650,000/2012/-$1,726.00
TJF Realty Corporation/470-484 Raymond Boulevard/2468/1/East/$1,457,000/2009/-$3,615.48
TJF Realty Corporation/470-484 Raymond Boulevard/2468/1/East/$1,457,000/2010/-$4,197.60
TJF Realty Corporation/470-484 Raymond Boulevard/2468/1/East/$1,457,000/2011/-$4,392.96
TJF Realty Corporation/470-484 Raymond Boulevard/2468/1/East/$1,457,000/2012/-$4,556.64
United States Box Crafts, Inc./1292-1298 McCarter Highway/436/1/Central/$1,332,200/2009/-$8,217.00
United States Box Crafts, Inc./1292-1298 McCarter Highway/436/1/Central/$1,332,200/2010/-$9,540.00
United States Box Crafts, Inc./1292-1298 McCarter Highway/436/1/Central/$1,332,200/2011/-$9,984.00
United States Box Crafts, Inc./1292-1298 McCarter Highway/436/1/Central/$1,332,200/2012/-$10,356.00
Wilson Avenue Associates/73-83 Wilson Avenue/2032/10/East/$2,500,000/2009/-$13,695.00
Wilson Avenue Associates/73-83 Wilson Avenue/2032/10/East/$2,500,000/2010/-$15,900.00
Wilson Avenue Associates/73-83 Wilson Avenue/2032/10/East/$2,500,000/2011/-$16,640.00
Wilson Avenue Associates/69-87 Alyea Street/2033/9.04/East/$1,100,000/2009/-$5,478.00
Wilson Avenue Associates/69-87 Alyea Street/2033/9.04/East/$1,100,000/2010/-$6,360.00
Wilson Avenue Associates/69-87 Alyea Street/2033/9.04/East/$1,100,000/2011/-$6,656.00
X-Tra Realty, LLC/926-932 Broadway/835/1/North/$1,957,300/2009/-$5,677.95
X-Tra Realty, LLC/926-932 Broadway/835/1/North/$1,957,300/2010/-$6,592.14
X-Tra Realty, LLC/926-932 Broadway/835/1/North/$1,957,300/2011/-$6,898.94
X-Tra Realty, LLC/926-932 Broadway/835/1/North/$1,957,300/2012/-$7,156.00
Additional Information:  
Total Tax Difference: -$392,981.76
Invitation: Corporation Counsel, August 6, 2013
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; 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, after receipt of all documents deemed appropriate.
  1. The City Clerk shall serve a copy of this resolution upon the Tax Assessor, Corporation Counsel and the Department 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.