United States Postal Service v. Town of Kearny

KAHN, J.T.C.

This is the court’s opinion with respect to taxpayer’s motion to enforce a settlement agreement entered into with the municipality regarding the 1996 tax year. The settlement at issue reduced the 1996 tax year assessment from $26,716,000 to $18,216,00o.1 The filing of this motion was necessitated because a $1,000,000 added assessment was levied against the subject property for the 1996 tax year, after settlement negotiations took place, but prior to execution of the stipulation of settlement. In addition to seeking enforcement of the parties’ settlement agreement with respect to…