BOROUGH OF
HILLSDALE
09131
RESOLUTION
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Title: Authorizing Settlement of a Tax Appeal for
in the Borough
of Hillsdale
WHEREAS, Bank of America, the
owner of certain real property located at 84 Park Avenue and 135 Broadway,
Borough of Hillsdale, Bergen County, New Jersey, also known as Block 1102, Lots
2 & 3 on the official Tax Map of the Borough of Hillsdale, Bergen County,
State of New Jersey; and
WHEREAS, the owner has filed an
appeal to the Tax Court of New Jersey for said premises for the years 2005,
2006, 2007, 2008 and 2009, under docket numbers 001522-2005, 003080-2006,
002575-2007, 002562-2008 and 005062-2009 respectively; and
WHEREAS, the parties have
engaged in settlement negotiations; and
WHEREAS, as a result of those
settlement negotiations, a settlement has been reached; and
WHEREAS, the current assessment
on Block 1102,
Tax
Year 2005
LAND: $
729,300
IMPROVEMENTS: $ 365,900
TOTAL
ASSESSMENT $1,095,200
Tax
Year 2006
LAND: $
729,300
IMPROVEMENTS: $ 365,900
TOTAL
ASSESSMENT $1,095,200
Tax
Year 2007
LAND: $1,575,000
IMPROVEMENTS: $ 972,400
TOTAL
ASSESSMENT $2,547,400
Tax
Year 2008
LAND: $1,575,000
IMPROVEMENTS: $ 972,400
TOTAL
ASSESSMENT $2,547,400
Tax
Year 2009
LAND: $1,575,000
IMPROVEMENTS: $ 972,400
TOTAL
ASSESSMENT $2,547,400; and
WHEREAS, the current assessment
on Block 1102, Lot 3,135 Broadway is as follows:
Tax
Year 2005
LAND: $
147,000
IMPROVEMENTS: $ 0
TOTAL
ASSESSMENT $ 147,000
Tax
Year 2006
LAND: $
147,000
IMPROVEMENTS: $ 0
TOTAL
ASSESSMENT $ 147,000; and
WHEREAS, the following reduced
assessment proposed for Block 1102,
Tax
Year 2005
LAND: $
729,300
IMPROVEMENTS: $ 265,700
TOTAL
ASSESSMENT $ 995,000
Tax
Year 2006
LAND: $
729,300
IMPROVEMENTS: $ 150,700
TOTAL
ASSESSMENT $ 880,000
Tax
Year 2007
LAND: $1,575,000
IMPROVEMENTS: $ 772,400
TOTAL
ASSESSMENT $2,347,400
Tax
Year 2008
LAND: $1,575,000
IMPROVEMENTS: $ 772,400
TOTAL
ASSESSMENT $2,347,400
Tax
Year 2009
LAND: $1,575,000
IMPROVEMENTS: $ 772,400
TOTAL
ASSESSMENT $2,347,400; and
WHEREAS, the following
assessment proposed for Block 1102,
Tax
Year 2005
LAND: $
147,000
IMPROVEMENTS: $ 0
TOTAL
ASSESSMENT $ 147,000
Tax
Year 2006
LAND: $
147,000
IMPROVEMENTS: $ 0
TOTAL
ASSESSMENT $ 147,000; and
WHEREAS, all refunds due to
Bank of America shall be without interest, provided that payment is made within
sixty (60) days of the date of any entry of Judgment in this action; and
WHEREAS, any refunds due as a
result of this settlement shall be made payable to “Bank of America” c/o Bruce
J. Stavitsky, Esq., Stavitsky & Associates, LLC, attorneys for Plaintiff
and forwarded to Bruce J. Stavitsky, Esq., Stavitsky & Associates, LLC, 341
Broad Street, Clifton, New Jersey 07013; and
WHEREAS, the Tax Counsel and
the Tax Assessor have recommended said settlement to the Mayor and Council; and
WHEREAS, the Mayor and Council
is of the opinion that said settlement is in the best interests of the Borough
of Hillsdale.
NOW,
THEREFORE, BE IT RESOLVED, BY THE Mayor and Council of the Borough of Hillsdale,
County of Bergen, State of New Jersey, being the governing body thereof, that
the settlement in this matter as set forth hereinabove be and is hereby
approved and the Tax Counsel, Christopher E. Martin, Esq., is hereby authorized
and directed to affect said settlement.
|
Council
member |
Motion |
Second |
Yes |
No |
Absent |
Abstain |
|
Arnowitz, Max |
|
|
x |
|
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|
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DeJoseph, Jonathan |
|
|
x |
|
|
|
|
Giancarlo, Michael |
|
|
x |
|
|
|
|
Hanlon, Marie |
|
x |
x |
|
|
|
|
Schiavone, Donna |
|
|
x |
|
|
|
|
Weinstein, Andy |
x |
|
x |
|
|
|
Adopted: October 13, 2009
Attest: ________________________ ___________________________________
Robert P. Sandt, RMC Acting Mayor Donna Schiavone
Municipal Clerk