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File #: 020648    Version: 0
Type: Resolution Status: Passed
File created: 8/1/2002 In control: JUDICIARY & LEGISLATION COMMITTEE
On agenda: Final action: 9/24/2002
Effective date:    
Title: Resolution to cancel real estate taxes levied against a certain parcel identified by Tax Key No. 361-0872-110-8, 431 N. 5th Street, Milwaukee, Wisconsin, on the 2000 tax roll, plus interest applicable to date of repayment, if appropriate. (Assessor's Office)
Sponsors: THE CHAIR
Indexes: TAX CANCELLATIONS
Attachments: 1. Assessor's Cover Letter.pdf, 2. Fiscal Note.pdf, 3. Assessment Reduction Form.PDF
Number
020648
Version
ORIGINAL
Reference

Sponsor
THE CHAIR
Title
Resolution to cancel real estate taxes levied against a certain parcel identified by Tax Key No. 361-0872-110-8, 431 N. 5th Street, Milwaukee, Wisconsin, on the 2000 tax roll, plus interest applicable to date of repayment, if appropriate. (Assessor's Office)
Analysis
This resolution requires the cancellation of taxes because of Board of Review reductions in assessment of Tax Key No. 361-0872-110-8 for 2000, the issuance of checks to the City Treasurer or taxpayer as applicable, and the proper reductions of State Tax Credits by journal entries.
Body
Whereas, An assessment in the amount of $929,000 (Land: $236,200 - Improvements: $692,800) was made against the real estate property known as Tax Key Number 361-0872-110-8, for the year 2000; and

Whereas, The Board of Review has decreased this assessment to $918,000 (Land: $236,200 – Improvements: $681,800), for a reduction of $11,000; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that the proper city officers are authorized and directed to issue a city check in the amount of $308.07 payable to the City Treasurer or taxpayer as applicable, to be refunded to the taxpayer where appropriate, plus interest at the rate of 9.6% applicable from date of payment to date of repayment, said amount to be charged to the Remission of Taxes Fund, 0001 Org 9990 Program 0001 Sub-class S163 Account 006300 and said check to be delivered to the Tax Billing and Collection Division of the Treasurer's Office for disbursement; and, be it

Further Resolved, That the proper city officers are authorized and directed to reflect the reduction in State Tax Credits as follows:

Section 79.10 (2) $18.66 City: $14.05
County: $4.61

by means of journal entries, charging the Remission of Taxes Fund, 0001 Org 9990 Program 0001 Sub-class S163 Account 006300, and crediting the State Tax Credit Fund; and, be it
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