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Township approves tax-assessment settlement with Grand Prix Morristown LLC
Summary
The committee authorized a settlement reducing the 2025 assessment for Grand Prix Morristown LLC (Block 1001, Lots 6 & 7, 2 Whippany Road) from $24,101 to $13,101, withdrew complaints for other years and agreed to apply the change to the 2025 assessment; no refund will be issued.
The Morris Township Committee voted Dec. 18, 2024 to authorize a stipulated settlement in Grand Prix Morristown LLC v. Township of Morris concerning property assessment for certain years.
As read into the record, the settlement withdraws complaints for tax years 2021 and 2024, reduces the 2025 assessment from $24,101 to $13,101, returns the 2026 assessment to $24,101, and specifies that no refund will be issued; any credit will be applied through the 2025 assessment change. The township’s consulting tax attorney is authorized to execute the stipulation of settlement.
The committee moved, seconded and approved the settlement by roll call. No further discussion was requested on the floor.
