Long Beach City Council Approves Stop & Shop Tax Settlement

LONG BEACH, NY. — The Long Beach City Council unanimously approved the settlement of a tax dispute filed against the city by Stop & Shop Tuesday night, authorizing the corporation counsel to execute an agreement that would end a taxation disagreement with the grocery giant.

The settlement pertains to a tax grievance filed by the grocery chain in an effort to lower the assessed value of 85 Long Beach Plaza for the tax years between 2018-19 and 2025-26.

“This item is a proposed settlement of a tax certiorari proceeding with Stop & Shop Supermarket Company, LLC. It involves the city making three payments totaling $340,000 to cover for seven years of alleged overpayments, as well as the reduction of the assessed value from $650,000 to $500,000,” Creighton said. “That is not the valuation of the property, that’s the equivalent of a $22.1 million property value. As part of the agreement, the company would agree not to further aggrieve their taxes through tax year 28-29.”

As for the money for the settlement, Creighton said the city had money available in the budget to pay for the tax reimbursement.

“Funds are available in the judgments and claims budget line,” Creighton said, “But I remind everyone that there is a limit as to what can be discussed without going into executive session, as the matter is a pending litigation issue.”

The resolution specified that $140,000 would be due within 60 days of the settlement, with an additional $100,000 due Sept. 1, 2026 and the final $100,000 due Sept. 1, 2027.