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Mahwah approves tax-appeal settlement for 140 Route 17, cuts assessed value for 2026 to $7.25 million
Summary
Council authorized a settlement of multiple tax appeals affecting 140 Route 17 (Galaxy HG Mahwah LLC), reducing assessments in stages from $11.8 million to $7.25 million for 2026; the settlement includes a waiver of pre-judgment interest if refunds are paid within 60 days.
The Township Council on July 20, 2026 voted to settle tax appeals affecting the property at 140 Route 17 (previously Hospitality Prop c/o Marriott and Sonesta Select), authorizing the Tax Appeal Attorney to finalize agreements reducing assessed values across several years.
Under Resolution #253-26 the assessment for tax year 2021 will be reduced to $11,000,000 (from $11,800,000); 2022 to $10,500,000; 2023 to $10,000,000; 2024 and 2025 to $9,500,000; and 2026 to $7,250,000. The settlement is conditioned on a waiver of pre-judgment interest by the taxpayer, provided any refund owed is paid within 60 days of Tax Court judgments; the taxpayer agreed to accept a tax credit for any 2026 overpayments.
Township officials said the recommendation came from the Tax Appeal Attorney, Township Assessor and Township Appraiser and was judged to be in the township’s best interest. The Municipal Clerk will file and circulate the executed settlement documents as required.
