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)
Premier Properties, LLC/53/4/17-25 Academy Street/Central/$7,588,500/2014/-$15,861.62
Premier Properties, LLC/53/4/17-25 Academy Street/Central/$7,525,000/2015/-$19,026.75
Premier Properties, LLC/53/4/17-25 Academy Street/Central/$7,525,000/2016/-$19,780.00
Octavio Fernandes & Thierry/2477/9/141 Fleming Avenue/East/$600,000/2015/-$4,000.58
Octavio Fernandes & Thierry/2477/9/141 Fleming Avenue/East/$600,000/2016/-$4,158.96
Octavio Fernandes & Thierry/2477/9/141 Fleming Avenue/East/$600,000/2017/-$4,304.04
Octavio Fernandes & Thierry/2477/9/141 Fleming Avenue/East/$550,000/2018/-$6,311.34
Newark Farmers Market Urban Renewal, LLC*property currently abated/2423/1/54-88 Cornelia Street aka 51-83 Lister Avenue/East/$4,435,000/2014/-$13,414.93
Newark Farmers Market Urban Renewal, LLC*property currently abated/2423/1/54-88 Cornelia Street aka 51-83 Lister Avenue/East/$4,000,000/2015/-$10,307.54
Warren Street Development/403/23/200-214 Warren Street/Central/$5,212,500/2018/-$36,930.00
Additional Information:
Total Tax Difference: -$134,095.76
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, January 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...
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