LONG BEACH, NY. \u2014 The Long Beach City Council unanimously approved the settlement of a tax dispute filed against the city by Stop & Shop Tuesday night, authorizing the corporation counsel to execute an agreement that would end a taxation disagreement with the grocery giant. <\/p>\n
The settlement pertains to a tax grievance filed by the grocery chain in an effort to lower the assessed value of 85 Long Beach Plaza for the tax years between 2018-19 and 2025-26. <\/p>\n
\u201cThis item is a proposed settlement of a tax certiorari proceeding with Stop & Shop Supermarket Company, LLC. It involves the city making three payments totaling $340,000 to cover for seven years of alleged overpayments, as well as the reduction of the assessed value from $650,000 to $500,000,\u201d Creighton said. \u201cThat is not the valuation of the property, that\u2019s the equivalent of a $22.1 million property value. As part of the agreement, the company would agree not to further aggrieve their taxes through tax year 28-29.\u201d <\/p>\n
As for the money for the settlement, Creighton said the city had money available in the budget to pay for the tax reimbursement. <\/p>\n
\u201cFunds are available in the judgments and claims budget line,\u201d Creighton said, \u201cBut I remind everyone that there is a limit as to what can be discussed without going into executive session, as the matter is a pending litigation issue.\u201d <\/p>\n
The resolution specified that $140,000 would be due within 60 days of the settlement, with an additional $100,000 due Sept. 1, 2026 and the final $100,000 due Sept. 1, 2027.<\/p>\n","protected":false},"excerpt":{"rendered":"LONG BEACH, NY. \u2014 The Long Beach City Council unanimously approved the settlement of a tax dispute filed…\n","protected":false},"author":2,"featured_media":124622,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[131,133,132],"class_list":["post-124621","post","type-post","status-publish","format-standard","has-post-thumbnail","category-long-beach","tag-long-beach","tag-long-beach-headlines","tag-long-beach-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/124621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=124621"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/124621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/124622"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=124621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=124621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=124621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}