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.
The 30-unit Riverside Gardens, at 136-166 W. Grand Ave.,was awarded a refund of $8,761.50 for the 2012 tax year. The property (Block 161, Lot 39) is assessed for $1.15 million, yielding a recent property tax bill of $76,199. The refund works out to approximately 13 percent of its tax bill for 2012, which would have been about $67,152.
City Council approved a resolution (AR-192-16) at its Oct. 11 meeting authorizing the refund of overpayment due to successful judgments in state Tax Court for Riverside Gardens as well as two residential properties for the 2016 tax year: 719 Madison Ave./Block 112, Lot 18 ($638.90) and 244 Williams St./Block 307, Lot 6 ($1,041.41).
The two-story structure was built in 1964 and is owned by Livingston-based Benevento Associates, LLC, which bought the property in May 2011 for $2.55 million, according to property records.
It’s the second tax appeal for an apartment complex this year; Hamilton Gardens, a 10-unit complex on Hamilton Street, was awarded a refund on part of its 2014 and 2015 property tax bills. In 2014, a number of garden apartments around Rahway also won appeals on tax years that included 2012.