Stipulation of Settlement Dubuque Bank and TrustBarry A. Lindahl, Esq. Dubuque
City Attorney ~,,~,~
Suite 330, Harbor View Place ~~~
300 Main Street
Dubuque, Iowa 52001-6944 ~ I I`r
(563)583-4113 office
(563) 583-1040 fax ~~~
balesq@cityofdubuque.org
Mayor and Members of the City Council
of the City of Dubuque
Cit~ Hall
13t & Central Avenue
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
Cit~r Hall
13t & Central
Dubuque, IA 52001
April 3, 2008
THE CITY OF
DuB E
~~ U ~
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
14742 Hwy. 20 West, Suite 2
Dubuque, IA 52003
RE: Heartland Financial vs. Dubuque Board of Review - 2007 Property Tax
Protest; State of Iowa Property Assessment -Docket No's. 07-104-0114, 07-
104-0115, 07-104-0116 & 07-104-0117.
Dear Chairperson, Mayor & President:
Enclosed is a Stipulation of Settlement of four tax assessment appeals. Iowa Code
441.44 requires that the Stipulation of Settlement be served upon each of you.
The properties that are the subject of these appeals are owned by Dubuque Bank &
Trust, for which Heartland Financial is the parent company, and Palle Corporation,
which Heartland Financial is representing. Dubuque Bank & Trust owns three of the four
properties and Palle Corporation owns the fourth.
The Dubuque Bank & Trust properties protested are 2196 Holliday Drive (1020227004),
the branch bank, 2690 Rockdale Road (1501377006), another branch bank, and 1398
Central Avenue (1024413013), the main downtown bank. The Palle Corporation
property being protested is 1475 Associates Drive (1028153006), the Floor Show.
The first property is the banking institution at 2196 Holliday Drive. The Docket Number
is 07-104-0117. The 2007 assessed value is $2,282,500. In the spring of 2007 Pivotal
Tax Solutions brought a protest to the Board of Review on this Dubuque Bank & Trust
property. The petitioners asked for a reduction in value to $1,600,000. The Board of
Review denied the protest and the petitioners filed a protest with the Property
Assessment Appeal Board. The Board of Review hired a certified appraiser, Mr. Kevin
Pollard, to provide a preliminary consultation on the value of this property. Mr. Pollard
inspected the property with Mr. Richard Engelken, Dubuque City Assessor on
November 9, 2007. Mr. Pollard finalized his preliminary consultation on January 23,
2008. Mr. Pollard's recommendation was the property at 2196 Holliday Drive was worth
between $2,585,000 and $2,675,000. Based on this analysis the Dubuque City Board of
Review offered no relief for this petition and the assessed value will remain unchanged.
The petitioner has accepted this offer.
The second protest is the branch bank at 2690 Rockdale Road. The Docket Number is
07-104-0115. The 2007 assessed value is $346,200. In the spring of 2007 this property
was protested to the Board of Review. The petitioner requested the value be reduced to
$293,200.The Board of Review denied the petition and the petitioner filed a protest with
the Property Assessment Appeal Board. The Board of Review hired a certified
appraiser, Mr. Kevin Pollard, to provide an appraisal of this property. Mr. Pollard
inspected the property with Mr. Richard Engelken, Dubuque City Assessor on
November 9, 2007. Mr. Pollard completed his appraisal on January 16, 2008. The
appraisal set the property value on 2690 Rockdale Road at $325,000. Based on the
appraisal the Dubuque City Board of Review offered to reduce the assessed value for
2007 to $325,000. The petitioner accepted this offer. The settlement will result in an
estimated tax loss of $730 per year.
The third protest in the main bank for Dubuque Bank & Trust located at 1398 Central
Avenue. The Docket Number is 07-104-0114. The 2007 assessed value is $3,559,100.
In the spring of 2007 this property was protested to the Board of Review. The petitioner
used a market and income analysis to request the value be reduced to $2,700,000. The
Board of Review denied the petition and the petitioner filed a protest with the Property
Assessment Appeal Board. The Board of Review hired a certified appraiser, Mr. Kevin
Pollard, to provide a preliminary consultation on this property. Mr. Pollard inspected the
property with Mr. Richard Engelken, Dubuque City Assessor on November 9, 2007. Mr.
Pollard completed his consultation work on January 18, 2008. Mr. Pollard suggested the
current market value for 1398 Central Avenue be $3,050,000 to $3,150,000. The Board
of Review offered the petitioner an assessed value for 2007 of $3,200,000. The
2
petitioner accepted this offer. The settlement will result in an estimated tax loss of
$12,350 per year.
The last protest is the Floor Show property located at 1475 Associates Drive. The
Docket Number is 07-104-0116. The 2007 assessed value is $2,667,300. In the spring
of 2007 this property was protested to the Dubuque City Board of Review. The
petitioner used a market and income analysis to request the value be lowered to
$1,900,000. The Board of Review denied the petition and the petitioner filed a protest
with the Property Assessment Appeal Board. The Board of Review hired a certified
appraiser, Mr. Kevin Pollard, to perform an appraisal on this property. Mr. Pollard
inspected the property on November 9, 2007 and again on January 28, 2008. Mr.
Pollard finished his appraisal on February 1, 2008. The appraisal established a market
value of $3,000,000. The Board of Review based on the appraisal offered no reduction
of this property. The petitioner accepted the offer and the 2007 value will remain
unchanged.
Pursuant to the Stipulation of Settlement these appeals will be dismissed and the tax
assessments will be adjusted on two of the four previously mentioned parcels for
January 1, 2007.
The proposed settlement will be presented to the Property Assessment Appeal Board
after fourteen days from the date indicated on the attached Notice. of Voluntary
Settlement. If there are any objections to the proposed settlement, they should be
making known to the City Assessment prior to that time.
If you have any questions about the proposed settlement, please contact City Assessor
Richard Engelken at (563) 589-4416.
Very sin ly,
B rry A. Lindahl, Esq.
ty Attorney
BAL/tls
Enclosure
cc: Michael C. Van Milligen, City Manager
Jeanne Schneider, City Clerk
Rick Engelken, City Assessor
3
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0114
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appellee.
STIPULATION OF SETTLEMENT
Appellant Heartland Financial and Appellee Dubuque City Board of Review, state
to the State of Iowa Property Assessment Appeal Board that the pending
litigation with regard to the tax assessment for the following-described property
as of January 1, 2007:
Parcel No. 10-24-413-013
(1398 Central Avenue)
has been settled and agreed upon as follows:
Valuation:
Land $74,700
Dwelling $3,125,300
Total $3,200,000
It is further agreed that upon entry of a Property Assessment Appeal
Board Order confirming the above settlement, the above pending litigation shall
be dismissed with prejudice.
Dated this ~T day of ~ , 2008.
HEARTLAND FINANCIAL
by:
DUBUQUE CITY BOARD
OF REV
by
Barry A. Lindahl, Esq.
Chet Welch
(printed name)
its:
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the
Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0114
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appel lee.
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 Dubuque City 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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 3`~ day of April , 2008.
Dubuque Ci~~6'q~rd of Review,
Responden ~~iellee
By
Barry ~ Lindahl, Esq., City Attorney
Suite 30, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Docket No. 07-104-0115
Dubuque City Board of Review,
Respondent-Appellee.
STIPULATION OF SETTLEMENT
Appellant Heartland Financial and Appellee Dubuque City Board of Review, state
to the State of Iowa Property Assessment Appeal Board that the pending
litigation with regard to the tax assessment for the following-described property
as of January 1, 2007:
Parcel No. 15-01-377-006
(2690 Rockdale Road)
has been settled and agreed upon as follows:
Valuation:
Land
Dwelling
Total
It is further agreed
Board Order confirming the
be dismissed with prejudice,
$174,600
$150,400
$325,000
that upon entry of a Property Assessment Appeal
above settlement, the above pending litigation shall
Dated this 3/ day of /~ , 2008.
HEARTLAND FINANCIAL DUBUQUE CITY BOARD
OF REVI
by: by:
Barry A. Lindahl, Esq.
Chet Welch
(printed name)
its:
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the
Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0115
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-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 Dubuque City 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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 3~d day of April , 2008.
Dubuque City Board of Review,
Respondent-Appellee
By
'Barry A. Lindahl, Esq., City Attorney
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0116
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City ¢oard of Review,
Respondent-Appellee.
STIPULATION OF SETTLEMENT
Appellant Heartland Financial and Appellee Dubuque City Board of Review, state
to the State of Iowa Property Assessment Appeal Board that the pending
litigation with regard to the tax assessment for the following-described property
as of January 1, 2007:
Parcel No. 10-28-153-006
(1475 Associates Drive)
has been settled and agreed upon as follows:
Valuation:
Land $724,500
Dwelling $1,942,800
Total $2,667,300
It is further agreed that upon entry of a Property Assessment Appeal
Board Order confirming the above settlement, the above pending litigation shall
be dismissed with prejudice.
Dated this ~ ~~day of M , 2008.
HEARTLAND FINANCIAL
by:
DUBUQUE CITY BOARD
OF REVIE
by:
B rry A. Lindahl, Esq.
Chet Welch
(printed name)
its:
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the
Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0116
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appel lee.
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 Dubuque City 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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 3'~ day of April , 2008.
Dubuque Ci Board of Review,
Respondeppellee
By
Brbrry A. Lindahl, Esq., City Attorney
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0117
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appel lee.
STIPULATION OF SETTLEMENT
Appellant Heartland Financial and Appellee Dubuque City Board of Review, state
to the State of Iowa Property Assessment Appeal Board that the pending
litigation with regard to the tax assessment for the following-described property
as of January 1, 2007:
Parcel No. 10-20-227-004
(2196 Holliday Drive)
has been settled and agreed upon as follows:
Valuation:
Land $653,800
Dwelling $1,628,700
Total $2,282,500
It is further agreed that upon entry of a Property Assessment Appeal
Board Order confirming the above settlement, the above pending litigation shall
be dismissed with prejudice.
Dated this ~Tday of iG( , 2008,
HEARTLAND FINANCIAL DUBUQUE CITY BOARD
OF REV
by: by:
rry A. Lindahl, Esq.
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0117
IN THE MATTER OF
Heartland Financial,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-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 Dubuque City 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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 3~d day of April , 2008.
Dubuque ty Board of Review,
Respon t-Appellee
By
Barry A. Lindahl, Esq., City Attorney
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the Board of Review
Chet Welch
(printed name)
its:
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the
Board of Review