Hill Wallack LLP has successfully litigated a series of real estate tax appeals for the years 2006, 2007 and 2008 relating to a mixed use property in Millville, New Jersey resulting in significant tax savings to the property owner client of the firm. The three (3) separate tax appeals caused the municipality’s total assessment on the property to be reduced by more than 42.25% for each of those years. More specifically, pursuant to Judgments entered by the State Tax Court on each appeal, the original assessments on the property, totaling $5,527,000 for each of the three years, were substantially reduced as follows: by 51.6% (to $2,675,000) for the 2006 tax year; by 48.33% (to $2,856,000) for the 2007 tax year; and by 42.28% (to $3,190,000) for the 2008 tax year. The Judgments were in accordance with Stipulations of Settlement entered into between the property owner and municipality. As a result of the Judgments, the municipal tax collector was required by law to issue adjusted tax bills on the property which reflected the owner’s significant tax savings. The adjusted bills caused the property owner’s tax liability to be reduced by $80,597 for 2006, by $85,480 for 2007 and by $76,159 for 2008. The overall tax savings to the property owner for those three years totaled $242,236. The final tax savings for the owner was is in excess of 51.6% of the total amount initially billed by the tax collector in both 2006 and 2007 (based upon the municipality’s original annual assessments and tax rates). For 2008 the tax savings was in excess of 42.85% of the amount initially billed.