Stipulation of Settlement_Property Tax Appeal, 1500 JFK RoadBarry 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
RECEIVED
11NOV -3 PM 1: 17
City Cierk s ° .flee
Dubuque, IA
Mayor and Members of the City Council
of the City of Dubuque
City 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
City Hall
13tn & Central
Dubuque, IA 52001
Dubuque THECrrYOF_
IT 1 flY'r 54'4'144- S1444
i
2007
November 2, 2011
DUBUQ
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 Northwestern Trust & Nellis Management v. City Board of Review of
Dubuque Iowa — 2011 Property Tax Protest — Case No. 11- 104 -0375
Dear Chairpersons, Mayor and President:
Enclosed is a copy of a Stipulation of Settlement of a tax assessment appeal. Iowa
Code 441.44 requires that the Stipulation of Settlement be served upon each of you.
The property that is the subject of this appeal is the Long John Silver property located at
1500 JFK Road Dubuque, Iowa, Assessor's Parcel no. 1028231005, owned by First
Northwestern Trust & Nellis Management.
First Northwestern Trust & Nellis Management is represented by Deborah M. Tharnish
of the Davis Brown Law Firm in Des Moines. This property consists of a 41,612 square
foot lot and a fast food building. The building was constructed in 1976 and has 1,868
square feet. The 2011 assessment was $497,140 which was protested to the Dubuque
City Board of Review. The petitioner requested a value of $375,000 based on the
income and expenses of the property. The petitioner supplied income and expense
records for the wrong property at the Board of Review hearing. The Board of Review
denied the protest and the petitioner appealed the Board of Review decision to the
Property Assessment Appeal Board.
After the appeal the petitioner supplied the Board of Review with the lease for the
property. The lease was for $4,000 a year Tess than the Board of Review originally
thought. The Assessor's Office reviewed the property documents and raised questions
with local commercial bankers and appraisers regarding loan rates and cap rates. A
conclusion was reached and a settlement offer was extended to reduce the property
value to $460,000. This offer was rejected by the property owner and a counteroffer of
$435,000 was made to the Board of Review for the 2011 assessment. The Board of
Review agreed to this offer because of the minimal difference between $435,000 and
$460,000.
This $62,160 reduction in value will result in a loss of revenue of $2,212 per year but all
commercial properties will be revalued beginning with the 2014 assessment.
Pursuant to the Stipulation of Settlement, this appeal will be dismissed and the tax
assessment will be adjusted to $435,000 for Parcel no. 1028231005 for January 1,
2011.
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
known 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.
Very 'ncerely,
4
Barry A. Lindahl, Esq.
City Attorney
BAL:tls
Enclosure
cc: Michael C. Van Milligan, City Manager
Kevin S. Firnstahl, City Clerk
Richard Engelken, City Assessor
2
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 11- 104 -0375
Parcel No. 10 -28- 231 -005
IN THE MATTER OF
First Northwestern Trust & Nellis Management,
Petitioner - Appellant,
vs.
City of Dubuque Board of Review,
Respondent - Appellee.
STIPULATION OF SETTLEMENT
Appellant First Northwestern Trust & Nellis Management, and Appellee City of Dubuque
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, 2011:
Parcel No. 10 -28- 231 -005
has been settled and agreed upon as follows:
Valuation:
Land
Building
Total
$280,190
$154,810
$435,000
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 2 day of 40 4514'119t-' , 2011,
FIRST NORTHWESTERN TRUST &
NELLIS MANAGEMENT.
by: ,1 �r� ti ' ► U
Deborah M. Tharnish
Davis, Brown, Koehn,
Shors & Roberts, P.C.
The Davis Center
215 10th Street, Suite 1300
Des Moines, IA 50309
(515) 288 -2500
DUBUQU TY BOARD
OF REV
by:
arry A. Lindahl, Esq.
uite 330, Harbor View Place
300 Main Street
Dubuque, IA 52001 -6944
(563) 583 -4113
Counsel for the Board of Review
F:\ USERS \tsteckle \Lindahl\TaxAppeals \First Northwestern Trust & Nellis Mngmt 2011 \StlpulationOtSettlement 101211,doc
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
Docket No. 11- 104 -0375
Parcel No. 10 -28- 231 -005
IN THE MATTER OF
First Northwestern Trust & Nellis Management,
Petitioner - Appellant,
vs.
City of Dubuque 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 C-- day of 11/411R^`'vis^— , 2011.
City of Dubuque Board of Review,
Responde ppellee
By
B= ry 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
F: \USERS \tsteckle \Lindahl \Tax Appeals\First Northwestern Trust & Nellis Mngmt 2011\ NoticeOtVoluntarySettlement _101211.doc