A St. Georges Avenue auto center won a tax appeal that slashed more than a quarter off its property tax bill for last year.
City Council approved a resolution (AR-141-17) at its June 12 combined meeting which authorized a refund of $6,791.51 for the 2016 tax year due to judgments in the Tax Court of New Jersey. That’s about 27 percent off of the property tax bill for the 2016 tax year.
The 123×196 lot at 421 St. Georges Ave. (Block 14, Lot 4), adjacent to the Firehouse Pub, generated a total property tax bill of about $25,319.61 last year.
The 0.55-acre property was assessed for $396,300 before this year, when it was reduced by about 50 percent to $200,000, according to property records. The assessment on the land portion was reduced from $232,700 to $180,000 (a decrease of about 23 percent), and on the improvements portion from $163,600 to $20,000 (a decrease of about 88 percent).
The property, situated across from Plainfield Avenue and Albermarle Street, sold for $610,000 in October 2007 and then went into Sheriff’s Sale where it was picked up for $1,000 in July 2015 by a Union-based LLC, 421 Properties Associates, LLC, according to property transactions.