BOROUGH OF HILLSDALE

                                                                                    10082

RESOLUTION

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 

Title:  Authorizing Settlement of a Tax Appeals for 364/372/420 Broadway, Block 1603, Lots 1, 2 & 3; 381/391 Broadway, Block 1007, Lots 14 & 15.

 

WHEREAS, 391 Broadway-Valley Fair Corp. c/o Inserra Supermarkets, Inc., the owner of certain real property located at 364 Broadway, 372 Broadway, 381 Broadway 391 Broadway, 420 Broadway, Borough of Hillsdale, Bergen County, New Jersey, also known as Blocks 1603, Lots 1, 2 & 3, Block 1007, Lots 14 & 15 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 007446-2007, 002937-2008, 011043-2009 and 000000-2010 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 1603, Lot 2, Address: 372 Broadway is as follows:

Tax Year 2007

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100

 

Tax Year 2008

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100

 

Tax Year 2009

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100

 

Tax Year 2010

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100; and

 

WHEREAS, the current assessment on Block 1603, Lot 3, Address: 364 Broadway is as follows:

Tax Year 2007

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600

 

Tax Year 2008

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600

 

Tax Year 2009

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600

 

Tax Year 2010

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600; and

 

WHEREAS, the current assessment on Block 1603, Lot 1, Address: 420 Broadway is as follows:

Tax Year 2007

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300

 

Tax Year 2008

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300

 

 

Tax Year 2009

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300

 

Tax Year 2010

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300; and

 

WHEREAS, the current assessment on Block 1007, Lot 15, Address: 391 Broadway is as follows:

Tax Year 2007

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700

 

Tax Year 2008

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700

 

Tax Year 2009

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700

 

Tax Year 2010

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700; and

 

WHEREAS, the current assessment on Block 1007, Lot 14, Address: 381 Broadway is as follows:

Tax Year 2007

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900

 

 

Tax Year 2008

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900

 

Tax Year 2009

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900

 

Tax Year 2010

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900; and

 

WHEREAS, the following reduced assessment proposed for Block 1603, Lot 2, Address: 372 Broadway is as follows:

Tax Year 2007

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100

 

Tax Year 2008

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,345,100

TOTAL ASSESSMENT        $9,502,100

 

Tax Year 2009

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,009,100

TOTAL ASSESSMENT        $9,166,100

 

Tax Year 2010

LAND:                                    $5,157,000

IMPROVEMENTS:              $4,009,100

TOTAL ASSESSMENT        $9,166,100; and

 

WHEREAS, the following reduced assessment proposed for Block 1603, Lot 3, Address: 364 Broadway is as follows:

Tax Year 2007

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600

 

Tax Year 2008

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,600

TOTAL ASSESSMENT        $     86,600

 

Tax Year 2009

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,000

TOTAL ASSESSMENT        $     86,000

 

Tax Year 2010

LAND:                                    $     82,000

IMPROVEMENTS:              $       4,000

TOTAL ASSESSMENT        $     86,000; and

WHEREAS, the following reduced assessment proposed for Block 1603, Lot 1, Address: 420 Broadway is as follows:

Tax Year 2007

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300

 

Tax Year 2008

LAND:                                    $1,242,000

IMPROVEMENTS:              $     46,300

TOTAL ASSESSMENT        $1,288,300

 

Tax Year 2009

LAND:                                    $1,242,000

IMPROVEMENTS:              $       1,800

TOTAL ASSESSMENT        $1,243,800

 

Tax Year 2010

LAND:                                    $1,242,000

IMPROVEMENTS:              $       1,800

TOTAL ASSESSMENT        $1,243,800; and

WHEREAS, the following reduced assessment proposed for Block 1007, Lot 15, Address: 391 Broadway is as follows:

Tax Year 2007

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700

 

Tax Year 2008

LAND:                                    $1,114,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,121,700

 

Tax Year 2009

LAND:                                    $1,073,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,080,700

 

Tax Year 2010

LAND:                                    $1,073,600

IMPROVEMENTS:              $       7,100

TOTAL ASSESSMENT        $1,080,700

WHEREAS, the following reduced assessment proposed for Block 1007, Lot 14, Address: 381 Broadway is as follows:

Tax Year 2007

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900

 

Tax Year 2008

LAND:                                    $   436,500

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   438,900

 

Tax Year 2009

LAND:                                    $   421,000

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   423,400

 

Tax Year 2010

LAND:                                    $   421,000

IMPROVEMENTS:              $       2,400

TOTAL ASSESSMENT        $   423,400; and

 

WHEREAS, all refunds due to 391 Broadway-Valley Fair Corp. c/o Inserra Supermarkets, 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 “391 Broadway-Valley Fair Corp. c/o Inserra Supermarkets, Inc.” 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, 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

 

 

 

 

 

 

 

DeJoseph, Jonathan

 

x

X

 

 

 

Giancarlo, Michael

 

 

 

 

x

 

Hanlon, Marie

X

 

X

 

 

 

Schiavone, Donna

 

 

X

 

 

 

Weinstein, Andy

 

 

 

 

x

 

 

Adopted:  June 8, 2010

 

 

Attest: ________________________                         ___________________________________

Robert P. Sandt, RMC                         Mayor Max Arnowitz

Municipal Clerk