Stipulation of Settlement_270 West StreetBarry A. Lindahl, Esq.
City Attorney
Suite 330, Harbor View Place
300 Main Street
Dubuque, Iowa 52001-6944
(563) 583-4113 office
(563) 583-1040 fax
balesq@cityofdubuque.org
Mayor and Members of the City Council
of the City of Dubuque
Cit~r 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
D~~ub~~uqu~~e
AMala
1 '~
zoos
June 9, 2008
rxe cizir 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: First National Bank vs. Dubuque City Board of Review - 2007 Property Tax
Protest; State of Iowa Property Assessment -Docket No. 07-104-0108, 07-
104-0109, 07-104-0107
Dear Chairperson, Mayor & President:
Enclosed is a copy of a Stipulation of Settlement of three tax assessment appeals. Iowa
Code §441.44 requires that the Stipulation of Settlement be served upon each of you.
The pro~erty that is the subject of this appeal is the U.S. Bank property located at 270
West 7t Street, Dubuque, Iowa, Assessor's Parcels: 1025209001, 1025209002, and
1025209003.
The Dubuque City Assessor's Office valued the property for January 1, 2007 at
$2,074,500. The three parcels were individually assessed at $1,872,100, $144,600 and
$57,800. The breakdown of the value is as follows:
Parcel No. Parcel No. Parcel No.
1025209001 1025209002 1025209003
Land $161,800 $128,300 $52,800
Building $1,710,300 $16,300 $5,000
Total $1,872,100 $144,600 $57,800
First National Bank represented by Jim Schwalls & Associates of McKinney, Texas, filed
a protest with the Dubuque City Board of Review claiming First National Bank was not
being treated comparable to others and was over assessed because its property is
worth $960,000. As evidence, First National Bank provided an income analysis to
support its requested value. The protest was denied by the Board of Review. An appeal
was then filed with the State of Iowa Property Assessment Appeal Board.
The City Board of Review hired Mr. Kevin Pollard, a MAI Certified Appraiser, to act on a
consulting basis to help find the proper market value for the property. After reviewing
multiple sales it was Mr. Pollard's opinion the total value of the First National Bank
property was $1,400,000 to $1,500,000.
With this knowledge the City Assessor's Office acting on behalf of the City Board of
Review offered a settlement offer of $1,800,000 to the petitioner. The petitioner rejected
the offer and submitted a counteroffer between $1,300,000 and $1,400,000.
Dubuque City Assessor, Richard Engelken, presented this counteroffer to the Dubuque
City Board of Review. The Board of Review rejected the counteroffer and instructed Mr.
Engelken to counter this offer with an offer of $1,500,000. Mr. Rowland Welch, a
representative with Jim Schwalls & Associates accepted this offer and a settlement has
been reached. The settlement is at the upper end of the value presented by the certified
appraiser.
The settlement will result in a loss of tax dollars of $19,762 per year.
Pursuant to the Stipulation of Settlement, this appeal will be dismissed and the tax
assessment will be adjusted to $1,297,600 for parcel 1025209001, $144,600 for parcel
1025209002, and $57,800 for parcel 1025209003 for January 1, 2007.
The proposed settlement will be presented to the Property Assessment Appeal Board
after 14 days from the date indicated on the attached Notice of Voluntary Settlement. If
2
there are any objections to the proposed settlement, they should be made know to the
City Assessor prior to that time.
If you have any questions about the proposed settlement, please contact City Assessor,
Rick Engelken at (563)-589-4416.
cerely~
,Barry A. Lindahl, Esq.
City 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. 07-104-0107
IN THE MATTER OF
First National Bank,
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 9th day of June, 2008.
Dubuque Ci Board of Review,
Respond -Appellee
By
Barry A. Lindahl, Esq., City Attorney
quite 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. 07-104-0107
IN THE MATTER OF
First National Bank,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appellee.
STIPULATION OF SETTLEMENT
Appellant First National Bank 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. 10-25-209-001
(270 West 7th Street)
has been settled and agreed upon as follows:
Valuation:
Land $161,800
Building $1,135,800
Total $1,297,600
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 ~yiJE , 2008.
FIRST NATIONAL BANK
ti.
DUBUQUE
OF REVIE~I
by:
BOARD
rry A. Lindahl, Esq.
Rowland welch
(printed name)
its:__Agent for First National Bank
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. 07-104-0108
IN THE MATTER OF
First National Bank,
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 9th day of June, 2008.
Dubuque Board of Review,
Respon t-Appellee
By
~arry A. Lindahl, Esq., City Attorney
uite 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. 07-104-0108
IN THE MATTER OF
First National Bank,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appellee.
STIPULATION OF SETTLEMENT
Appellant First National Bank 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. 10-25-209-002
(630 Locust Street)
has been settled and agreed upon as follows:
Valuation:
Land $128,300
Building $ 16,300
Total $144,600
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 Z day of dlvv~ , 2008.
FIRST NATIONAL BANK
DUBUQUE CITY BOARD
OF R EW
c
by•
Barry A. Lindahl, Esq.
Rowland Welch
(printed name)
ItS: Agent for First National Bank
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. 07-104-0109
IN THE MATTER OF
First National Bank,
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 9th day of June, 2008.
Dubuque City Board of Review,
Respondent-Appellee
By
arty A. Lindahl, Esq., City Attorney
uite 330, Harbor View Place
00 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 07-104-0109
IN THE MATTER OF
First National Bank,
Petitioner-Appellant,
vs.
Dubuque City Board of Review,
Respondent-Appel lee.
STIPULATION OF SETTLEMENT
Appellant First National Bank 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. 10-25-209-003
(Vacant Lot)
has been settled and agreed upon as follows:
Valuation:
Land $52,800
Building $ 5,000
Total $57,800
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 ~N ~ , 2008.
FIRST NATIONAL BANK DUBUQUE CITY BOARD
OF REV
by: by.
Barry A. Lindahl, Esq.
Rowland Welch
(printed name)
ItS: Agent for First National Bank
Suite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001-6944
(563) 583-4113
Counsel for the
Board of Review