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)
17 Elwood Place, LLC/17-21 Elwood Place/733/9/North/$2,179,400/2014/-$31,874.68
160 Frontage Road, LLC/156-160 Frontage Road/5088/172/East/$17,750,000/2012/-$69,212.60
160 Frontage Road, LLC/150-154 Frontage Road/5088/174/East/$163,000/2012/-$0.00
250 Passaic, LLC/220-262 Passaic Street/435/1/Central/$4,714,900/2012/-$52,542.89
Two Palisades Associates/200-204 Market Street/164/23/Central/$1,938,200/2012/-$35,624.64
Van Velsor Group, LLC/87-101 Chancellor Avenue/3691.01/32/South/$2,750,000/2011/-$34,944.00
Van Velsor Group, LLC/87-101 Chancellor Avenue/3691.01/32/South/$1,700,000/2012/-$0.00
Van Velsor Group, LLC/87-101 Chancellor Avenue/3691.01/32/South/$3,850,000/2013/-$36,975.00
Van Velsor Group, LLC/87-101 Chancellor Avenue/3691.01/32/South/$3,850,000/2014/-$48,724.50
Washington Park Fidelco, LLC/471-495 Broad Street/32/18.03/C2B/Central/$11,939,600/2010/-$31,230.78
Washington Park Fidelco, LLC/471-495 Broad Street/32/18.03/C2B/Central/$11,939,600/2011/-$38,841.09
Washington Park Fidelco, LLC/471-495 Broad Street/32/18.03/C2B/Central/$11,939,600/2012/-$64,452.29
Additional Information:
Total Tax Difference: -$444,422.47
Invitation: Corporation Counsel, July 8, 2014
Deferred 7R5-g 070914
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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 Corpor...
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