The City Council next month will consider the fourth Payment In Lieu Of Taxes (PILOT) in the last two years, this time for the largest project and the longest program yet.
Continue reading Main Street project would get 30-year PILOT
Category Archives: taxes
Dornoch property wins tax appeal for 2012
A Main Street property that was among more than a half-dozen properties acquired years ago by developer Dornoch Holdings won a tax appeal, knocking about 17 percent off the tax bill for 2012 and a 6-percent reduction in the assessment.
The property at 1501 Main St. (Block 320, Lot 12) had an overall property tax bill of almost $14,700 last year. The assessment for 2013 was $229,700 and reduced by about 6.3 percent to $215,100, according to property records.
The City Council authorized a credit of $2,505.79 due to a judgment of the Continue reading Dornoch property wins tax appeal for 2012
Preliminary budget projects $43 tax hike
The City Council on Monday night introduced a $51.83-million budget for 2014 that would increase the municipal portion of the average property tax bill by about $43.
A public hearing and final approval is scheduled at the City Council’s April 14 regular meeting. In the meantime, the budget will be sent to the state for technical review, Chief Financial Officer Frank Ruggiero told council members Monday night. He described it as a very aggressive budget that increases taxes about 1 percent over last year, staying under a state-imposed 2 percent cap. UPDATE: A copy of the budget can be found here. Continue reading Preliminary budget projects $43 tax hike
Shopping center wins five-year tax appeal
Another month, another multi-year tax appeal is settled. A shopping center that straddles the border of Rahway and Woodbridge will get a refund of more than $188,000 on its tax bill over the last five years after the City Council approved a judgment by the state Tax Court.
Elizabeth Avenue parcel wins tax judgment
A commercial warehouse property on Elizabeth Avenue will get a nearly 24-percent break on its 2013 property tax bill as a result of a state tax court judgment. Nearly 120 properties had successful appeals at the county level, resulting in some $182,000 in refunds for the 2013 tax year.
2013 tax appeals ding city for almost $182,000
About 120 properties won tax appeals at the Union County Board of Taxation this fall, collectively knocking almost $182,000 off their tax bills for the 2012 year.
Continue reading 2013 tax appeals ding city for almost $182,000
State Tax Court judgment slashes tax bill in half
Let’s call it “Tax appeal week” at Rahway Rising as we catch up on a few more tax appeals over the last several months, including those approved at the county tax board, decided at the state Tax Court or settled with the city.
STS Tire and Auto Center on St. Georges Ave. (Block 7, Lot 1) had its 2012 tax bill cut in half after a judgment by the state Tax Court. The City Council authorized a refund of $16,705.26 at its Nov. 12 meeting (AR-240), some 46 percent off the total property tax bill of about $36,310 paid by STS on its three St. Georges Avenue lots.
The main parcel on St. Georges Avenue, about a third of an acre and including the building, is assessed for $512,000 and had a tax bill of $29,906 in 2012. Two other land-only lots (Block 7, Lots 2 and 3), which were not appealed, are assessed at a combined $105,900, with taxes of $6,404, for a total 2012 tax bill of about $36,310.
Bridgewater-based STS also was among more than 120 tax appeals in the city for the 2013 tax year that were approved by the county tax board. The City Council approved the judgements at its October meeting and we’ll post details on those appeals and new assessments later this week.
Park Square tax appeal settlement
Park Square, the 159-unit rental complex downtown that was purchased last month, reached a tax appeal settlement with the city in October, which reduced its assessment by more than a third.