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File #: 16-0826    Version: 1 Name: Stipulation of Settlements for Tax Appeals
Type: Resolution Status: Adopted
File created: 5/11/2016 In control: Finance
On agenda: 6/15/2016 Final action: 7/7/2016
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) Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$36,400,000/2013/-$165,368.00 Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$35,000,000/2014/-$68,222.00 Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$33,600,000/2015/-$119,124.00 Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,750,000/2013/-$8,864.91 Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,400,000/2014/-$20,162.70 Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,400,000/2015/-$21,515.12 BMHC Dev Assoc c/o Shaya Hazan/815-817 Broad Street/57.03/100/Central/$785,300/2013/-$6,493.65 Hallmark Properties a/k/a Hallmark Investments/937-953 Broad Street/106/1/Central/$23,000,000/2013/-$29,530.00 H...
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)
Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$36,400,000/2013/-$165,368.00
Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$35,000,000/2014/-$68,222.00
Colonnades Apartments c/o Wilshire/23-59 Clifton Avenue/456/1/Central/$33,600,000/2015/-$119,124.00
Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,750,000/2013/-$8,864.91
Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,400,000/2014/-$20,162.70
Alexander & Maria Fontes/637-641 Market Street/2011/23/East/$1,400,000/2015/-$21,515.12
BMHC Dev Assoc c/o Shaya Hazan/815-817 Broad Street/57.03/100/Central/$785,300/2013/-$6,493.65
Hallmark Properties a/k/a Hallmark Investments/937-953 Broad Street/106/1/Central/$23,000,000/2013/-$29,530.00
Hallmark Properties a/k/a Hallmark Investments/937-953 Broad Street/106/1/Central/$23,000,000/2014/-$31,010.00
Hallmark Properties a/k/a Hallmark Investments/937-953 Broad Street/106/1/Central/$22,500,000/2015/-$49,635.00
Additional Information:
Total Tax Difference: -$519,925.38
Invitation: Corporation Counsel, June 14, 2016.
Deferred 7R5-c 061516
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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, dated May 6, 2016; 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 settl...

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