Kennedy Mall, Inc. 2023 Property Tax Appeal Stipulation of Settlement Approval - Parcel No. 1028276002City of Dubuque
City Council Meeting
ITEM TITLE
SUMMARY:
SUGGESTED
DISPOSITION:
ATTACHMENTS:
Description
Copyrighted
December 18, 2023
Consent Items # 07.
Kennedy Mall, Inc. 2023 Property Tax Appeal Stipulation of Settlement
Approval - Parcel No. 1028276002
Senior Counsel recommending approval of the Stipulation of Settlement
for a 2023 property tax appeal filed by Kennedy Mall, I nc. for their
property located at Parcel No. 1028276002.
Suggested Disposition: Receive and File; Approve
Agenda Letter
Notice of Voluntary Settlement
Stipulation of Settlement
Type
Supporting Documentation
Supporting Documentation
Supporting Documentation
Barry A. Lindahl, Esq.
Senior Counsel
Suite 330, Harbor View Place
300 Main Street
Dubuque, Iowa 52001-6944
(563) 583-4113 office
(563)583-1040 fax
balesq@cityofdubuque.org
Office Hours: 8:00 AM — 5:00 PM, T-W-Th
8:00 AM — 12:00 PM, F
Dubuque
THE CITY OF
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November 28, 2023
Mayor and Members of the City Council President of the Board of Directors
of the City of Dubuque Northeast Iowa Community College
City Hall P.O. Box 400
50 West 13t" Street Calmar, IA 52132
Dubuque, IA 52001
Chairperson of the
Dubuque County Board of Supervisors
Dubuque County Courthouse
720 Central Avenue
Dubuque, IA 52001
Chairperson of the School Board
Dubuque Community School District
Central Administration Offices
2300 Chaney Road
Dubuque, IA 52001
Chairperson of the Conference Board
of the City of Dubuque
City Hall
50 West 13th Street
Dubuque, IA 52001
Chairperson of the Board of Trustees
Dubuque County Hospital
Sunnycrest Manor
2375 Roosevelt Street
Dubuque, IA 52001
Chairperson of the Council of the
Dubuque County Agricultural Extension
Service
14858 West Ridge Lane, Suite 2
Dubuque, IA 52003
RE: Kennedy Mall, Inc. vs. City of Dubuque Board of Review
2023 Property Tax Appeal — Case No. 2023-104-00233C
Enclosed is a copy of the Stipulation of Settlement regarding a tax assessment appeal
filed by Kennedy Mall, Inc. with the Property Assessment Appeal Board. Iowa Code Sec.
441.44 requires that the Stipulation of Settlement be served upon each of you.
There is one property that is the subject of this appeal. The appeal is for the January 1,
2023 assessed value.
The Kennedy Mall Property
This parcel is for the land only. The improvements were assessed as a separate parcel
at the time of the appeal. This parcel contains 46.55 acres of land which is almost entirely
improved upon with Kennedy Mail and five other buildings.
2023 Appeal
Kennedy Mall filed a protest with the Dubuque City Board of Review in April 2023
protesting the January 1, 2023 value of $7,887,600. The prior year's assessed value was
$4,500,000. The protest claimed the assessed value should be $4,000,000. The Board
of Review denied the protest and the representatives from Kennedy Mail filed an appeal
to the Iowa Property Assessment Appeal Board for the 2023 valuation, requesting a
reduction to $4,000,000.
Proposed Settlement
Kennedy Mall submitted an appraisal for the property which primarily used the income
approach valuation methodology. Recent sales of malls in Cedar Rapids and Sioux City
were also considered by the City Assessor. After reviewing the appraisal and mall sales,
the parties have reached a proposed settlement agreement. The tentative settlement is
for the assessed value for January 1, 2023 to remain at $7,887,600.
Pursuant to the Stipulation of Settlement the appeal will be dismissed and the assessed
value will remain at $7,887,600 for the January 1, 2023 year.
The value for 2023 will be apportioned as follows:
Land $7,887,600
Building $0
Total $7,887,600
The total tax loss to all taxing bodies is estimated to be $0.
The proposed settlement will be presented to the Property Assessment Appeal Board
after fourteen (14) days from the date indicated on the attached Notice of Voluntary
Settlement. If there are any objections to the settlement they should be made known to
the Property Assessment Appeal Board prior to that time. If you have any questions about
the proposed settlement, please contact City Assessor Troy Patzner at (563) 589-7800.
Very sincerely,
VA. Lindahl, Esq.
or Counsel
Enclosure
Attachment
cc: Michael C. Van Milligen, City Manager
Adrienne N. Breitfelder, City Clerk
Troy Patzner, City Assessor
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2023-104-00233C
Parcel No. 1028276002
KENNEDY MALL, INC.
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
NOTICE OF VOLUNTARY SETTLEMENT
TO: City of Dubuque, Iowa
County of Dubuque, Iowa
Dubuque Community School District
Northeast Iowa Community College
Dubuque County Hospital
Dubuque County Agricultural Extension Service
Conference Board of the City of Dubuque
YOU ARE HEREBY NOTIFIED, pursuant to Iowa Code Section 441.44, that the
above -named Appellant and the City of Dubuque Board of Review, Appellee, have
entered into a voluntary settlement of this assessment appeal.
A copy of the proposed Stipulation of Settlement is attached hereto.
This Stipulation of Settlement will be presented to the Iowa Property Assessment
Appeal Board for approval no sooner than fourteen (14) days from the date of this Notice.
Dated this a8-91 day of N0UeM1 �e r- , 2023.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee.
t
By:
arry A. Lindahl, Esq.
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2023-104-00233C
Parcel No, 1028276002
KENNEDY MALL, INC.
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
Appellant Kennedy Mall Inc. and Appellee City of Dubuque Board of Review state
to the Iowa Property Assessment Appeal Board that the pending litigation with regard to
the tax assessment for the following -described property as of January 1, 2023:
Parcel No. 1028276002
has been settled and agreed upon as follows:
Valuation:
Land $7,887,600
Building $0
Total $7,887,600
It is further agreed that upon entry of an Iowa Property Assessment Appeal Board
Order confirming the above settlement, the above pending litigation shall be dismissed
with prejudice.
Dated this ?)* day of AAU0 '�2" 2023.
KENNEDY MALL, INC. CITY OF DUBUQUE BOARD OF REVIEW
Appellant Appellee
By:
Barry A. Lindahl, Esq.
Anthony M, Cafaro, Jr,, Authodizeltt Apat