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File #: 161546    Version: 0
Type: Resolution Status: Passed
File created: 3/1/2017 In control: COMMON COUNCIL
On agenda: Final action: 3/28/2017
Effective date:    
Title: Resolution authorizing settlement of the lawsuit entitled Pierce Milwaukee, LLC v. Wisconsin Department of Revenue, to cancel real estate taxes levied against parcel identified as 2202 N. Bartlett Avenue, Wisconsin (Pierce Milwaukee LLC), on the 2013 and 2014 tax rolls.
Sponsors: THE CHAIR
Indexes: SUITS SETTLEMENT
Attachments: 1. Spreadsheet of Amendments, 2. Cover Letter, 3. Claim Forms.PDF
Number
161546

Version
ORIGINAL

Reference

Sponsor
THE CHAIR

Title
Resolution authorizing settlement of the lawsuit entitled Pierce Milwaukee, LLC v. Wisconsin Department of Revenue, to cancel real estate taxes levied against parcel identified as 2202 N. Bartlett Avenue, Wisconsin (Pierce Milwaukee LLC), on the 2013 and 2014 tax rolls.
Analysis
This resolution requires the cancellation of taxes because of a decrease in assessment as made by the Wisconsin Tax Appeals Commission of the Wisconsin Department of Revenue, 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 was made against the real estate property know as Tax Key Number 355-0431-116-1 in the amount of $2,732,300 (Land: $1,440,000 - Improvements: $1,292,300), and 2,719,600 (Land: $1,433,300 - Improvements: $1,286, 300), for the years 2013 and 2014 respectively, and

Whereas, The Wisconsin Tax Appeals Commission of the Wisconsin Department of Revenue have reached a Settlement Agreement for decreasing the assessments for Tax Key Number 355-0431-116-1 to $1,155,200 (Land: $612,300 - Improvements: $542,900), for a reduction of $1,577,100 and 1,149,800 (Land: $609,400 - Improvements: $540,400), for a reduction of $1,569,800, for the years 2013 and 2014 respectively, and; now, therefore, be it

Whereas, It is further stipulated that Pierce Milwaukee, LLC waives the right to any interest due under Wis. Stat. sec. 70.511(2)(b).

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 $95,334.54 payable to the City Treasurer or taxpayer as applicable, to be refunded to the taxpayer where appropriate, from date of payment to date of repayment, said amount to be charged to the 2017 Remission of Taxes Fund, 0001 Org 9990 Program 0001 Sub-class S163 Account 006300 and said check to be deliver...

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