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 delivered to the Customer Services Unit 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:
Tax Key 355-0431-116-1 for 2013
Section 79.10 (2) $3,115.24 (City: $2,417.48
County: $ 697.76)
Tax Key 355-0431-116-1 for 2014
Section 79.10 (2) $3,111.82 (City: $2,401.37
County: $ 710.45)
By means of journal entries, charging the 2017 Remission of Taxes Fund, 0001 Org 9990 Program 0001 Sub-class S163 Account 006300, and crediting the State Tax Credit Fund; and, be it
Further Resolved, That delinquent interest and penalties on this account is hereby canceled.
Requestor
Assessor’ Office
Drafter
jlf
2/15/2017