File #: 20-0265    Version: 1 Name: Stipulation of Settlement for Tax Appeal March 2020
Type: Resolution Status: Adopted
File created: 2/14/2020 In control: Finance
On agenda: 4/7/2020 Final action: 4/7/2020
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) E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2015/-$1,240.88 E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2016/-$1,290.00 E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2017/-$1,335.00 E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2018/-$1,384.88 E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2015/-$8,222.87 E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2016/-$8,548.40 E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2017/-$8,846.60 E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2018/-$9,177.11 E.K.L Associates, LLC/1839/24/393-397 Central Avenue/Central/$681,700/2015/-$9,467.05 E.K.L Associates, LLC/1839/24/39...
Sponsors: Council of the Whole

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)

E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2015/-$1,240.88

E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2016/-$1,290.00

E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2017/-$1,335.00

E.K.L Associates, LLC/1839/11/378 Central Avenue/Central/$91,900/2018/-$1,384.88

E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2015/-$8,222.87

E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2016/-$8,548.40

E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2017/-$8,846.60

E.K.L Associates, LLC/1839/9/380-382 Central Avenue/Central/$608,100/2018/-$9,177.11

E.K.L Associates, LLC/1839/24/393-397 Central Avenue/Central/$681,700/2015/-$9,467.05

E.K.L Associates, LLC/1839/24/393-397 Central Avenue/Central/$681,700/2016/-$9,841.84

E.K.L Associates, LLC/1839/24/393-397 Central Avenue/Central/$681,700/2017/-$10,185.16

E.K.L Associates, LLC/1839/24/393-397 Central Avenue/Central/$681,700/2018/-$10,565.67

408 Central Avenue Trust/1840/1/408-416 Central Avenue/Central/$1,479,700/2015/-$5,578.97

408 Central Avenue Trust/1840/1/408-416 Central Avenue/Central/$1,277,900/2018/-$13,678.87 

Additional Information: 

Total Tax Difference: - $99,363.30

Invitation: Corporation Counsel

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, March 2020; 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 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, March 2020, 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, and/or his designee, to execute a Stipulation of Settlement with regard to Tax Appeals on certain properties set forth in Schedule A, March 2020.