BOROUGH OF
HILLSDALE
10051
RESOLUTION
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Title: Authorizing Settlement of a Tax Appeals for Block
1306,
WHEREAS, VNB Realty, Inc., the
owner of certain real property located at 24 broadway, Borough of Hillsdale,
Bergen County, New Jersey, also known as Block 1306, Lot 10 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 2007,
2008, 2009, and 2010 under docket numbers 003776-2007, 002087-2008, 004387-2009
and ______-2010 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 1306, Lot 10, 24 Broadway is as follows:
Tax
Year 2007
LAND: $1,235,900
IMPROVEMENTS: $ 609,600
TOTAL
ASSESSMENT $1,845,500
Tax
Year 2008
LAND: $1,235,900
IMPROVEMENTS: $ 609,600
TOTAL
ASSESSMENT $1,845,500
Tax
Year 2009
LAND: $1,235,900
IMPROVEMENTS: $ 609,600
TOTAL
ASSESSMENT $1,845,500
Tax
Year 2010
LAND: $1,235,900
IMPROVEMENTS: $ 609,600
TOTAL
ASSESSMENT $1,845,500; and
WHEREAS, the following reduced
assessment proposed for Block 1306,
Tax
Year 2007
LAND: $1,235,900
IMPROVEMENTS: $ 484,100
TOTAL
ASSESSMENT $1,720,000
Tax
Year 2008
LAND: $1,235,900
IMPROVEMENTS: $ 484,100
TOTAL
ASSESSMENT $1,720,000
Tax
Year 2009
LAND: $1,235,900
IMPROVEMENTS: $ 402,100
TOTAL
ASSESSMENT $1,638,000
Tax
Year 2010
LAND: $1,235,900
IMPROVEMENTS: $ 300,100
TOTAL
ASSESSMENT $1,536,000; and
WHEREAS, all refunds due to VNB
Realty, Inc. 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 “VNB Realty, Inc. and Lasser
Hochman, L.L.C.” c/o Lasser Hochman, L.L.C., attorneys for Plaintiff and
forwarded to Lasser Hochman L.L.C.,
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 |
|
|
|
|
DeJoseph, Jonathan |
|
|
X |
|
|
|
|
Giancarlo, Michael |
|
|
X |
|
|
|
|
Hanlon, Marie |
|
|
X |
|
|
|
|
Schiavone, Donna |
|
x |
X |
|
|
|
|
Weinstein, Andy |
x |
|
X |
|
|
|
Adopted: April 6, 2010
Attest: ________________________ ___________________________________
Robert P. Sandt, RMC Mayor John Sapanara
Municipal Clerk