Kohl's Department Store, Inc. 2023 & 2024 Property Tax Appeal Stipulation of Settlement NoticeCopyrighted
November 18, 2024
City of Dubuque CONSENT ITEMS # 9.
City Council
ITEM TITLE: Kohl's Department Store, Inc. 2023 & 2024 Property Tax
Appeal Stipulation of Settlement Notice
SUMMARY: Senior Counsel transmitting notice of a Stipulation of
Settlement for a 2023 and 2024 property tax appeal filed by
Kohl's Department Store, Inc. for their property located at
2595 NW Arterial.
SUGGUESTED Receive and File
DISPOSITION:
ATTACHMENTS:
1. Taxi ngBodiesLetter_AGENDA
2. Stipulation of Settlement _ 2023
3. Stipulation of Settlement-2024
4. Notice of Voluntary Settlement _ 2023
5. Notice of Voluntary Settlement _ 2024
Page 420 of 1454
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
THE CITY OF
DUIBQTE
Masterpiece on the Mississippi
AGENDA LETTER
Dubuque
uFllatrladh
2007.2012
2013.2017
November 6, 2024
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 13th 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: Kohl's Department Stores, Inc. vs. City of Dubuque Board of Review
2023-2024 Property Tax Appeals
Enclosed is a copy of the Stipulation of Settlement regarding two tax assessment appeals
filed by Kohl's Department Stores, Inc. with the Iowa Property Assessment Appeal Board.
Iowa Code Sec. 441.44 requires that the Stipulation of Settlement be served upon each
of you.
Page 421 of 1454
There is one property that is the subject of these appeals. The appeals are for the January
1, 2023 and January 1, 2024 assessed values.
Details of Property
The property is owned and operated by Kohl's Department Stores, Inc. as a retail store.
The parcel is 9.86 acres in size and is in the Asbury Shopping Plaza at 2595 NW Arterial.
The 1-story 88,406 square foot decorative concrete block building was constructed in
2004.
2023 -2024 Appeals
Kohl's Department Stores, Inc, filed a protest with the City of Dubuque Board of Review
in April 2023 appealing the 2023 assessment of $7,078,700. The protest claimed the
assessed value to be $5,700,000 based on comparable sales of other retail buildings in
the Midwest and a report of this store indicating retail sales have decreased 22% over the
past 5 years. The Board of Review denied the protest and Kohl's proceeded to file an
appeal with the Iowa Property Assessment Appeal Board (PAAB). Kohl's also filed a
protest for the January 1, 2024 valuation with the Board of Review, which was also
denied, and Kohis' appealed to PAAB.
Appraisals
Each party had an appraisal of the property completed. Kohl's appraisal is for an
assessed value of $6,100,000 and the Board of Review appraisal is for an assessed value
of $7,160,000. Finding numerous recent normal arm's length sales of large retail
properties in a nearby market is challenging.
Proposed Settlement
After several offers between parties were exchanged, a proposed settlement agreement
was reached. The proposed settlement is for an assessed value for January 1, 2023 and
January 1, 2024 of $6,675,000.00.
Pursuant to the Stipulation of Settlement the appeals will be dismissed and the assessed
values will be adjusted to $6,675,000.00 for the January 1, 2023 and January 1, 2024.
The assessed value will be apportioned as follows:
Land
$1,672,700.00
Building
$5,002,300.00
Total
$6,675,000.00
The total tax loss to all taxing bodies is estimated to be $10,945 per year.
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.
2
Page 422 of 1454
Enclosure
Very-�incerely,
Barry A. Lindahl, Esq.
Senior Counsel
Attachment
cc: Michael C. Van Milligen, City Manager
Adrienne N. Breitfelder, City Clerk
Troy Patzner, City Assessor
3
Page 423 of 1454
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2023-104-00442C
Parcel No. 1017426003
KOHL'S DEPARTMENT STORES #985
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
Appellant Kohl's Department Stores #985 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. 1017426003
has been settled and agreed upon as follows:
Valuation:
Land
$1,672,700.00
Dwelling
$5 002 300.00
Total
$6,675,000.00
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
2024
KOHL'S DEPARTMENT STORES CITY OF DUBUQUE BOARD OF REVIEW
#985
Appellant Appellee
By' - By:��
SarahFranklin, General Counsel Barry A. Lindahl, Esq.
Page 424 of 1454
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2024-104-00085C
Parcel No. 1017426003
KOHL'S DEPARTMENT STORES #985
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
Appellant Kohl's Department Stores #985 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,
2024:
Parcel No. 1017426003
has been settled and agreed upon as follows:
Valuation:
Land
$1,672,700.00
Dwelling
$5 002,300.00
Total
$6,675,000.00
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
KOHL'S DEPARTMENT STORES
#985
Appellant
By:
Sa Franklin, Gene al Counsel
2024.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee
/ 1
By:
Barry A. Lindahl, Esq.
Page 425 of 1454
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2023-104-00442C
Parcel No. 1017426003
KOHL'S DEPARTMENT STORES #985,
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 day of V,lOV �'1=M-- 2024.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee.
By:
Barry Lindahl, Esq.
Suite��O, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Page 426 of 1454
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2024-104-00085C
Parcel No. 1017426003
KOHL'S DEPARTMENT STORES #985,
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 day of N006�( '01'— , 2024.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee.
By:
Bafp�-A. Lindahl, Esq.
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Page 427 of 1454