Liva Group, L.L.C. v. Borough of Paramus

WALLACE, J.A.D.

Plaintiff, Liva Group, appeals the Tax Court’s grant of defendant’s, Borough of Paramus, Motion to Enforce Settlement resulting in the dismissal of its complaint.

In 1995, the former owner of the assessed property appealed defendant’s 1995 assessment of $2.1 million. As a result of negotiations, the former owner of the assessed property and defendant agreed that the property would be assessed at $1.6 million. This agreement included, among other things, a provision making the “Freeze Act,” N.J.S.A. 54:51A-8, applicable to the $1.6 million assessment. Essentially, the effect of…