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)
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$733,900/2013/-$0.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$733,900/2014/-$0.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$633,900/2015/-$3,309.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$633,900/2016/-$3,440.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$633,900/2017/-$3,560.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$633,900/2018/-$3,693.00
Jose Lopez/Verona Avenue, LLC/844/1/223-229 Verona Avenue/North/$633,900/2019/-$3,761.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,947,800/2013/-$0.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,947,800/2014/-$0.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,847,800/2015/-$3,309.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,847,800/2016/-$3,440.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,847,800/2017/-$3,560.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,847,800/2018/-$3,693.00
Jose Lopez/Verona Avenue, LLC/844/12/870-878 Mt. Prospect Avenue/North/$1,847,800/2019/-$3,761.00
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$693,600/2013/-$0.00
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$693,600/2014/-$0.00
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$598,300/2015/-$3,153.48
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$318,300/2016/-$3,422.80
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$318,300/2017/-$3,542.20
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$318,300/2018/-$3,674.54
Jose Lopez/Verona Avenue, LLC/849/10/237-243 Verona Avenue/North/$318,300/2019/-$3,742.20
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$514,400/2014/-$0.00
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$514,400/2015/-$0.00
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$514,400/2016/-$0.00
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$514,400/2017/-$0.00
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$485,000/2018/-$1,085.74
144-146 Fleming Avenue, LLC/2468/27/144-146 Fleming Avenue/East/$485,000/2019/-$1,105.73
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$474,100/2014/-$0.00
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$474,100/2015/-$0.00
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$474,100/2016/-$0.00
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$425,000/2017/-$1,747.96
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$425,000/2018/-$1,813.26
97-99 Pacific Street, LLC/935/28/97-99 Pacific Street/East/$425,000/2019/-$1,846.65
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,512,300/2013/-$0.00
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,376,000/2015/-$0.00
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,376,000/2016/-$0.00
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,528,800/2017/-$3,560.00
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,528,800/2018/-$3,693.00
6-30 Chapel Street, LLC/2467/7/172-178 Fleming Avenue/East/$1,528,800/2019/-$3,761.00
Jose Seabras/999/33/63-65 Gotthardt Street/East/$522,900/2014/-$0.00
Jose Seabras/999/33/63-65 Gotthardt Street/East/$522,900/2015/-$0.00
Jose Seabras/999/33/63-65 Gotthardt Street/East/$500,000/2016/-$787.76
Jose Seabras/999/33/63-65 Gotthardt Street/East/$500,000/2017/-$815.24
Jose Seabras/999/33/63-65 Gotthardt Street/East/$500,000/2018/-$845.70
Jose Seabras/999/33/63-65 Gotthardt Street/East/$500,000/2019/-$861.27
Additional Information: Total Tax Credit Difference: - $74,984.53
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, April 2020 Credits; 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 on behalf of the City of Newark and/or his designee is hereby authorized to execute a Stipulation of Settlement with regard to certain properties as set forth in Schedule A, April 2020 Credits, 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, April 2020 Credits.