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/Settlement Assessment/Year/Refund Amount)
191 Walnut Holdings LLC/940/28/191-193 Walnut Street/East/$243,500.00/ 2014/ $1,240.40
191 Walnut Holdings LLC/940/28/191-193 Walnut Street/East/$243,500.00/2015/ $1,323.60
Fernandes Steak House, LLC/2468/21(24)/154-158 Fleming Avenue/East/$918,400.00/ 2013/$31,942.60
Fernandes Steak House, LLC/2468/21(24)/154-158 Fleming Avenue/East/$918,400.00/ 2014/$33,543.52
Fernandes Steak House, LLC/2468/21(24)/154-158 Fleming Avenue/East/$918,400.00/ 2015/$35,793.45
Adelco Homes, Inc./3035/56/52-54 Millington Avenue/South/$412,500.00/2019/-$1,875.18
LEG 450 Broad Street, LLC/26/15.01/5-55 Division Street/Central/$17,000,00.00/2019/-$679,140.00
LEG 450 Broad Street, LLC/26/1/450-466 Broad Street Rear/Central/$532,900.00/2019/-$0.00
LEG450 Broad Street, LLC Refund will be applied as credit.
Nomidis Trifon/19/14/61 Halsey Street/Central/325,000.00/2018/-$2,359.83
Nomidis Trifon/19/14/61 Halsey Street/Central/325,000.00/2019/-$2,410.95
Nomidis Trifon Refund will be applied as credit.
Additional Information:
Total Tax Difference: -$789,629.53 - Credit -$683,910.78 = $105,718.75
Invitation: Corporation Counsel
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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, September 2019; 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...
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