Walmart, Inc. and Wal-Mart Real Estate Business Trust 2023 Property Tax Appeal Stipulation of Settlement NoticeCity of Dubuque
City Council Meeting
Consent Items # 05.
Copyrighted
June 17, 2024
ITEM TITLE: Walmart, Inc. and Wal-Mart Real Estate Business Trust 2023 Property
Tax Appeal Stipulation of Settlement Notice
SUMMARY: Senior Counsel transmitting notice of a Stipulation of Settlement for a
2023 property tax appeal filed by Walmart, Inc. and Wal-Mart Real Estate
Business Trust for their property located at Parcel No. 1028352901.
SUGGESTED Suggested Disposition: Receive and File
DISPOSITION:
ATTACHMENTS:
Description Type
Agenda Letter Supporting Documentation
Stipulation of Settlement Supporting Documentation
Notice of Settlement 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(ucity ofdubuaue.ore
Office Hours: 8:00 AM — 5:00 PM, T-W-Th
8:00 AM — 12:00 PM, F
THE CITY OF
DUB El
Masterpiece on the Mississippi
AGENDA LETTER
Mayor and Members of the City Council
of the City of Dubuque
City Hall
50 West 13th Street
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
June 6, 2024
Dubuque
All•Infla Ch
2007.2012
2013.2017
President of the Board of Directors
Northeast Iowa Community College
P.O. Box 400
Calmar, IA 52132
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: Walmart, Inc. and Wal-Mart Real Estate Business Trust vs. City of Dubuque
Board of Review
2023 Property Tax Appeal — Case No. EQCV114886
Enclosed is a copy of the Stipulation of Settlement regarding a tax assessment appeal
filed by Walmart, Inc. and Wal-Mart Real Estate Business Trust with the District Court.
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 and January 1, 2024, assessed value. The building and land are separate parcels.
The appeal is pertaining to the building parcel only.
The property located at 4200 Dodge Street, Dubuque, Iowa is a 206,182 square foot retail
store built in 1993 and operated by Wal-Mart. The value for January 1, 2023 was
increased from $9,494,400.00 to $11,506,900.00. Wal-Mart petitioned the value to the
Board of Review and requested a value of $8,074,480.00.00. The Board of Review denied
the petition and Wal-Mart proceeded to District Court.
Proposed Settlement
After numerous settlement discussions, the parties have reached a proposed settlement
agreement. The tentative settlement is to return the assessed value for January 1, 2023
and January 1, 2024, to $9,494,400.00.
Several recent court decisions of Wal-Marts in eastern Iowa have determined values in
the range of $47.00-$54.00 per square foot of building area. The proposed settlement
values the property at $60.00 per square foot.
The settlement will result in a total tax loss to all taxing bodies of $57,150.00 for the 2023
and 2024 assessment years.
Pursuant to the Stipulation of Settlement the appeal will be dismissed and the assessed
value will be adjusted to $9,494,400.00 for 2023 and 2024.
The value for 2023 and 2024 will be apportioned as follows:
Land $0.00
Buildings $9,494,400.00
Total $9,494,400.00
The proposed settlement will be presented to the District Court 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 District Court 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,
B ry A. Lindahl, Esq.
S nior Counsel
2
Attachment
cc: Michael C. Van Milligen, City Manager
Adrienne N. Breitfelder, City Clerk
Trop Patzner, City Assessor
IN THE DISTRICT COURT FOR DUBUQUE COUNTY
}
WALMART, INC. AND WAL-MART )
REAL ESTATE BUSINESS TRUST, }
Plaintiff, )
vs. ) Case No. EQCV114886
}
CITY OF DUBUQUE BOARD OF )
REVIEW, )
Defendant. )
i
STIPULATION OF SETTLEMENT
Plaintiff, Walmart, Inc. and Wal-Mart Real Estate Business Trust and
Defendant, City of Dubuque Board of Review, state to the Court that the pending
litigation with regard to the tax assessment for the following -described property
as of January 1, 2023 and January 1, 2024:
(Parcel No. 1028352901)
has been settled and agreed upon as follows:
Valuation:
Land $0.00
Buildings $9,494,400.00
Total $9,494,400.00
It is further agreed that the Valuation of $9,494,400.00 shall be effective
for January 1, 2023 and January 1, 2024.
It is further agreed that upon entry of a Court Order confirming the above
settlement, the above pending litigation shall be dismissed with prejudice and the
costs shall be paid by Plaintiffs.
Dated this day of 12024.
WALMART, INC. AND
WAL-MART REAL ESTATE
BUSINESS TRUST
Paul D. Burns
404 East College Street,
Iowa City, IA 52240
(319) 358-5563
Attorney for Plaintiff
Suite 400
CITY OF DUBUQUE BOARD OF
REVIEW
By. 4T
_L-�
Barry A. Lindahl, Esq.
300 Main Street, Suite 330
Dubuque, IA 52001 -6944
(563) 583-4113
Counsel for the Dubuque City
Board of Review
2
IN THE DISTRICT COURT FOR DUBUQUE COUNTY
WALMART, INC. AND WAL-MART )
REAL ESTATE BUSINESS TRUST, )
Plaintiff, )
vs. ) Case No. EQCV114886
CITY OF DUBUQUE BOARD OF )
REVIEW, )
Defendant. )
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 Plaintiff and the City of Dubuque Board of Review,
Defendant, 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 above -named Court
for approval after fourteen days from the date of this Notice.
Dated this 6 1*4 day of 3 U kt- , 2024.
City of Dubu e Board of Review,
Defenda
Barry A. Lindahl, Esq,
Sdnior Counsel
300 Main Street, Suite 330
Dubuque, IA 52001
(563) 583-4113