A tax appeal settlement with the previous owner of Carriage City Plaza’s hotel and commercial space totaled a refunded of almost $116,000, representing about a 17-percent reduction on property taxes for 2013 through 2016.
The hotel and commercial space on the first four floors of Sky View at Carriage City Plaza sold for $5 million early this year.
Demolition began late last week on the former Power & Fitness building, about 50 weeks after the St. Georges Avenue site was approved for a new Wawa convenience store and gas station.
A concept plan presented to the Redevelopment Agency last week proposed a two-building, 174-unit rental complex that would reconfigure on-street parking across the river from downtown.
New Jersey’s first cat cafe, Rahway Kitty Hall, opened in downtown Rahway, hosting a grand opening earlier this month.
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.
Rahway’s total taxable value nudged up slightly last year, highlighted by a sharp increase in apartment assessments thanks to a new building on the tax rolls, and a dip among industrial property due to lower assessments on Merck properties.