RED BANK: COUNCIL DROPS REVERSE APPEALS

red bank nj oceanfirst hqThe OceanFirst Bank headquarters was the subject of a reverse appeal case settled Wednesday. (Photo by John T. Ward. Click to enlarge.)

By JOHN T. WARD

hot topic red bank njBombarded by criticism from the business community, the Red Bank council on Wednesday dropped a plan to pursue a new round of  “reverse appeals” against commercial properties it believed to be undertaxed.

But first, the council approved the settlement of an older reverse appeal that will boost the taxable value of a downtown building by 69 percent over three years. And battles over cases filed in 2018 continue.

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