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RED BANK: TAX SETTLEMENT POSTPONED

By JOHN T. WARD

hot topic red bank njThe Red Bank council postponed action Wednesday night on a proposed tax appeal settlement that would slash the assessment on a downtown bank property by almost one-third.

But the delay, requested by Mayor Pasquale Menna, was not motivated by an objection to the terms of the deal, he said.

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RED BANK: BIG TAX CUT FOR BANK ON AGENDA

red bank 170 broad 052420The Bank of America branch is identified in the settlement as both tenant and taxpayer at 170 Broad Street. (Photo by John T. Ward. Click to enlarge)

By JOHN T. WARD

A drive-thru bank in downtown Red Bank would get a 32-percent cut in its property tax assessment under a resolution up for consideration by the council Wednesday night.

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