STP Holdings LLC 2025 and 2026 Property Tax Appeal Stipulation of Settlement NoticeCity of Dubuque
City Council
CONSENT ITEMS # 15.
Copyrighted
July 20, 2026
ITEM TITLE:
STP Holdings LLC 2025 and 2026 Property Tax Appeal
Stipulation of Settlement Notice
SUMMARY:
Senior Counsel transmitting notice of a Stipulation of
Settlement for a 2025 and 2026 property tax appeal filed by
STP Holdings LLC for their property located at Parcel No.
1027406012.
SUGGUESTED
Receive and File
DISPOSITION:
ATTACHMENTS:
1. STP Hold ings_TaxingBodiesLetter_AGENDA
2. Stipulation of Settlement—STP Tax Appeal 2025 & 2026
3. Notice of Voluntary Settlement—STP Tax Appeal 2025 &2026
Page 758 of 1061
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 i ,cityofdubuque.org
Office Hours: 8:00 AM — 5:00 PM, T-W-Th
8:00 AM — 12:00 PM. F
THE COF
DtUB E
Masterpiece on the Mississippi
AGENDA LETTER
July 15, 2026
Dubuque
*Wft cny
2007.2012
2013.2017
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: STP HOLDINGS LLC vs. City of Dubuque Board of Review
2025 & 2026 Property Tax Appeal
Enclosed is a copy of the Stipulation of Settlement regarding a tax assessment appeal
filed by STP Holdings LLC with the Property Assessment Appeal Board. Iowa Code Sec.
441.44 requires that the Stipulation of Settlement be served upon each of you.
Page 759 of 1061
There is one property that is the subject of this appeal. The appeal is for the January 1,
2025 and January 1, 2026 assessed value. The January 1, 2025 assessed value is
$6,113,400.00.
Details of Property
The property is located at 2900 Dodge Street, Dubuque, Iowa, it is owned by STP
Holdings LLC and operated as Theisen's retail store. In 1979 the property was improved
with a one-story steel framed retail building, expanded in 2003 and 2009, totaling 86,830
square feet. Along with the retail store there is a 1987 built steel framed warehouse
totaling 4,380 square foot in size.
2025 Appeal
Theisen's filed a protest with the City of Dubuque Board of Review in April 2025 appealing
the 2025 assessment of $6,113,400.00. The prior 2024 assessment was $5,209,400.00.
After presenting evidence to the Board of Review, the petitioner requested a value of
$5,125,000.00. The Board did not change the 2025 value; Theisen's filed an appeal to
the Iowa Property Assessment Appeal Board (PAAB).
Proposed Settlement
After reviewing an appraisal and discovering details of the property that warrant
adjustments, the parties have reached a proposed settlement agreement. The tentative
settlement is for an assessed value for January 1, 2025 and January 1, 2026 of
$5,300,000.00.
Pursuant to the Stipulation of Settlement the appeal will be dismissed and the assessed
value will be adjusted to $5,300,000.00 for the January 1, 2025 and January 1, 2026 year.
The value for 2025 and 2026 will be apportioned as follows:
Land
$2,322,500.00
Building
$2,977,500.00
Total
$5,300,000.00
The total tax loss to all taxing bodies is estimated to be $22,195.00.
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,
B rry A. Lindahl, Esq.
2
Page 760 of 1061
Senior Counsel
Enclosure
Attachment
cc: Michael C. Van Milligen, City Manager
Adrienne N. Breitfelder, City Clerk
Troy Patzner, City Assessor
3
Page 761 of 1061
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2025-104-00278C & 2026-104-00073C
Parcel No. 1027406012
STP HOLDINGS LLC,
Appellant,
vs.
CITT OF W4BUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
Appellant STP Holdings LLC 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, 2025 and
January 1, 2026:
Parcel No. 1027406012
has been settled and agreed upon as follows:
Valuation:
Land $2,322,500.00
Dwelling $2,977,500.00
Total $5,300,000.00
It is further agreed that the Valuation of $5,300,000.00 shall be effective for
January 1, 2025 and January 1, 2026.
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 _2026.
Page 762 of 1061
STP HOLDINGS LLC
Appellant
By:
Deborah Tharnish, Esq.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee
Page 763 of 1061
IOWA PROPERTY ASSESSMENT APPEAL BOARD
PAAB Docket No. 2025-104-00278C & 2026-104-00073C
Parcel No. 1027406012
STP HOLDINGS LLC,
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 \ , 2026.
CITY OF DUBUQUE BOARD OF REVIEW
Appellee. _
Bariry A. Lindahl, Esq.
Su' e/330, Harbor View Place
30 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Page 764 of 1061