Council OKs tax appeals for industrial site

Rahway Industrial Sites will receive a refund of more than $200,000 as part of a settlement in state Tax Court.

City Council approved a resolution (AR-175-16) at its Sept. 12 meeting authorizing refunds for the following tax years:

  • 2009 – $24,495
  • 2010 – $25,640
  • 2011 – $28,825
  • 2012 – $29,205
  • 2013 – $30,235
  • 2014 – $31,020
  • 2015 – $31,585

The property tax bill last year was about $256,710. Over the seven years at issue, property taxes were about $1.633 million; after the appeal they would total about $1.432 million for the same period.

970 New Brunswick AvThe main property (Block 282, Lot 1.01) is a 10.5-acre site that saw its assessment reduced from $4,063,800 to $3,563,800 as part of the settlement. As part of the settlement, Rahway Industrial Sites will withdraw appeals on three adjacent properties: Block 283, Lot 4; Block 284, Lot 15, and Block 309, Lot 35.

In July, the governing body adopted a resolution authorizing a refund for the five of the tax years, excluding 2010 and 2015.