Rahway’s overall assessed value is about 7 percent off since the recession with assessed values of apartments and industrial properties heading in opposite directions while commercial assessments are almost back to pre-recession levels.
Continue reading A look at assessed value over the past decade
The 119 properties being studied for potential redevelopment have a total assessed value of $30.733 million, generating property taxes last year of about $1.898 million. Collectively, the properties comprise about 57 acres.
Almost 20 Rahway properties have been acquired in the last six months through the state Department of Environmental Protection (DEP)’s Blue Acres program, with demolition forthcoming as part of local flood-mitigation efforts.
Continue reading Blue Acres to demolish almost 20 properties
City Council is scheduled to hold a public hearing and final approval tonight on a new 20-year lease agreement for the city’s water treatment plant and a $14-million bond ordinance to borrow against an annual concession fee in the deal. UPDATED: Tonight’s meeting has been canceled. A combined conference/regular meeting has been scheduled for Nov. 21.
A garden apartment complex adjacent to the Wheatena section of Rahway River Park won a tax appeal equal to about 13 percent of its tax bill for 2012.
City Council last night tabled three ordinances related to a new 20-year water lease agreement for the city’s water treatment plan, pending review and approval by the state Local Finance Board.
Continue reading Council tables water deal until state review
The city plans to borrow $14 million against a new operating agreement that’s expected to pay the city $1 million annually over the course of a new 20-year contract. Continue reading Council to borrow $14m against new water deal
The city is moving to acquire an East Hazelwood Avenue property adjacent to the Department of Public Works (DPW) facility on Hart Street for possible future expansion of the DPW headquarters.
Continue reading City aims to acquire building to expand DPW