Walmart, Inc. and Sam's Real Estate Business Trust 2023 Property Tax Appeal Stipulationof SettlementCity of Dubuque
City Council Meeting
ITEM TITLE:
SUMMARY:
SUGGESTED
DISPOSITION:
ATTACHMENTS:
Description
Agenda Letter
Stipulation of Settlement
Notice of Settlement
Copyrighted
June 17, 2024
Consent Items # 06.
Walmart, Inc. and Sam's Real Estate Business Trust 2023 Property Tax
Appeal Stipulation of Settlement
Senior Counsel transmitting notice of a Stipulation of Settlement for a
2023 property tax appeal filed by Walmart, I nc. and Sam's Real Estate
Business Trust for their property located at 4400 Asbury Road.
Suggested Disposition: Receive and File
Type
Supporting Documentation
Supporting Documentation
Supporting Documentation
Barry A. Undahl, Esq.
Senior Counsel
Suite 330, Harbor View Place
300 Main Street
Dubuque, Iowa 52001-6944
(563) 583-41 13 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
THE CITY OF
DUB E
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
rt+t+
I�FAiEt�
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 Sam's Real Estate Business Trust vs. City of Dubuque
Board of Review
2023 Property Tax Appeal — Case No. EQCV114885
Enclosed is a copy of the Stipulation of Settlement regarding a tax assessment appeal
filed by Walmart, Inc. and Sam's 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 property is Sam's Club, located at 4400 Asbury Rd and is 17.67 acres in size. The
building is a 134,532 square foot retail store built in 2006. The value for January 1, 2023,
was increased from $9,000,000.00 to $11,529,700.00. Sam's Club petitioned the value
to the Board of Review requesting a value of $5,381,280.00. The Board of Review denied
the petition and Sam's Club proceeded to District Court.
Proposed Settlement
After numerous settlement discussions, the parties have reached a proposed settlement
agreement. The tentative settlement is for an assessed value for January 1, 2023 and
January 1, 2024, of $9,813,500.00.
In 2017 the property owner appealed the 2017 assessed value of $10,033,420.00. The
Board's appraisal valued it at $9,300,000.00. A settlement of $9,000,000.00 was agreed
upon at that time. Along with reviewing tax appeal court decisions on other Wal-Mart
properties, there has also been a Sam's Club court decision in Davenport which valued
the property significantly lower than the Davenport assessment. That decision valued the
property in Davenport at $51.00 per square foot of building area. The proposed
agreement for the Dubuque Sam's Club values the property at $73.00 per square foot.
The settlement will result in a total tax loss to all taxing bodies of $48,735.00 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 $9,813,500.00 for 2023 and 2024.
The value for 2023 and 2024 will be apportioned as follows:
Land $2,559,700.00
Buildings $7,253,800.00
Total $9,813,500.00
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.
2
Very sincerely,
Bar A. Lindahl, Esq.
Se or Counsel
F."UF. R �'lif Mo
cc: Michael C. Van Milligen, City Manager
Adrienne N. Breitfelder, City Clerk
Troy Patzner, City Assessor
Barry A. Lindahl, Esq.
City Attorney
Suite 330, Harbor View Place
300 Main Street
Dubuque, Iowa 52001-6944
(563) 583-41 13 office
(563)583-1040 fax
balesq@cityofdubuque.org
Paul D. Burns
Bradley & Riley PC
404 East College Street, Suite 400
Iowa City, IA 52240
Dubuque THE CITY OF
DUB E
Masterpiece on the Mississippi
2007
May 30, 2024
RE: Walmart, Inc. and Sam's Real Estate Business Trust vs. City of Dubuque
Board of Review
2023 Tax Appeal — Case No. EQCV114885
Dear Mr. Burns:
Enclosed is the Stipulation of Settlement and the proposed Notice of Voluntary
Settlement approving the settlement regarding the above -referenced tax appeals.
I would appreciate it if you would please sign the Stipulations and return them to me if
they are acceptable in form. We need to give all of the taxing bodies fourteen (14) days'
notice of the proposed settlements. Once we receive the signed Stipulations, we will
then send the Notices of Voluntary Settlement and letters to the taxing bodies and wait
the required time before submitting the Stipulations to the Court for approval.
Very sincerely,
Barry A. Lindahl, Esq.
City Attorney
BALIJLM
Enclosure
cc: Troy Patzner, City Assessor
IN THE DISTRICT COURT FOR DUBUQUE COUNTY
WALMART, INC. AND SAM'S REAL )
ESTATE BUSINESS TRUST, }
Plaintiff, )
vs. ) Case No. EQCV114885
}
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 . day of �Q t�c , 2024.
City of Dubuque Board of Review,
Defendant
By
B ry A. Lindahl, Esq.
Senior Counsel
300 Main Street, Suite 330
Dubuque, IA 52001
(563) 583-4113