Stipulation of Settlements_US Bank Property Tax AppealsBarry 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
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of the City of Dubuque
City Hall
13th & Central Avenue
Dubuque, IA 52001
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Dubuque County Board of Supervisors
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Central Administration Offices
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hitld
AN- AmericaclN
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THE CITY OF
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Masterpiece on the Mississippi
February 11, 2014
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RE: US Bank NA vs. Dubuque City Board of Review
2013 Tax Appeals — Docket No's. 13E- 104 -1200 and 13E- 104 -1199
Enclosed are copies of the Stipulation of Settlements regarding two tax assessment
appeals filed by US Bank NA. Iowa Code 441.44 requires that the Stipulation of
Settlement be served upon each of you.
There are two properties that are the subject of these appeals.
The first property is the US Bank located at 270 West 7th Street. The assessed value
for 2013 was $1,427,090 before an equalization order by the Iowa Department of
Revenue for an increase of 8% for all commercial property in the City of Dubuque. The
equalization order increased the US Bank property value to $1,541,257. US Bank,
represented by Rowland Welch of Jim Schwalls and Associates Inc., filed a protest with
the Board of Review requesting that the equalization order increase be removed from
the property because it increased the property value above its market value. US Bank
presented the Board of Review with an analysis of the market value and argued that the
value of the property should be $1,230,000. Mr. Welch scheduled a telephone hearing
with the Board of Review but did not appear at his scheduled time. The Board acted on
the protest by denying the request and adjourned later that morning. Mr. Welch did
contact the Assessor's office later that day but the Board had already adjourned.
The second property is the US Bank building located at 435 Kennedy Road. The
assessed value for 2013 was $1,307,780 before the equalization order increased the
property value to $1,412,402. US Bank filed a protest with the Board of Review
requesting the equalization order increase be removed from the property and that the
assessed valued by returned to $1,307,780. US Bank presented an analysis of the
market value and arrived at a value for both the bank and the small coffee shop next
door of $1,310,000. Mr. Welch scheduled a telephone hearing with the Board of Review
but did not appear at his scheduled time. The Board acted on the protest by denying the
request and adjourned later that morning. Mr. Welch did contact the Assessor's office
later that day but the Board had already adjourned.
US Bank then filed these two appeals with the Property Assessment Appeal Board
(PAAB) asking that the properties be returned to the pre - equalization order assessed
values.
The Dubuque City Assessor's office had previously hired an appraisal firm, Vanguard
Appraisals, to value all commercial property in the City for the 2014 assessment year.
Vanguard is just finishing work on the 2014 values and had placed a value of
$1,015,050 on the 435 Kennedy Road property and $1,582,390 on the 270 West 7th
property for the 2014. One property was appraised lower than the assessed value and
one property was appraised slightly higher than the assessed value.
With the Vanguard appraisals in mind, the Board of Review has offered a settlement to
reduce the 2013 assessment at 435 Kennedy Road to $1,307,780 if the assessed value
for 270 West 7th Street property remained at $1,541,257. The settlement was accepted
by US Bank.
The settlement will result in a reduction in assessed value of $104,622 for the 2013
assessment year. This settlement will mean a tax loss of $3,352 for the upcoming year.
Pursuant to the Stipulation of Settlement, these appeals will be dismissed and the tax
assessment will be adjusted to $1,307,780 for parcel 1027152001 for the 2013
2
assessment year. The value will be divided between the land value of $438,100 and the
building value of $869,680 for a total of $1,307,780.
The assessment for parcel 1025209005 will remain unchanged at $1,541,257 for the
2013 assessment year. The value will be divided between the land value of $266,587
and the building value of $1,274,670 for a total of $1,541,257.
The proposed settlement will be presented to the PAAB after fourteen 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 PAAB prior to that time.
If you have any questions about the proposed settlement, please contact City Assessor,
Rick Engelken at (563) 589 -7800.
Very si
rely,
Ba A. Lindahl, Esq.
Cit ' ttorney
Enclosure
cc: Michael C. Van Milligen, City Manager
Kevin Firnstahl, City Clerk
Rick Engelken, City Assessor
3
JtuVERED JAN 31 2014
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD J N `; "
R
DOCKET NO. 13E- 104 -1199
IN THE MATTER OF
US BANK, NA
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
Appellant US Bank, NA, 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, 2013:
Parcel No. 1025209005
(270 West 7th Street)
has been settled and agreed upon as follows:
Valuation:
Land $266,587.00
Building $1,274,670.00
Total $1,541,257.00
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.
.y r �
Dated this .1 day of FL 'f`' I �` / , 2014.
US BANK, NA
by: 6-;i4)-1-t--Ad
CITY OF DUBUQUE
BOARD OF REVIEW
by:
Rowland Welch B- ry A. Lindahl, Esq.
Jim Schwalls & Associates Inc. Suite 330, Harbor View Place
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
DOCKET NO. 13E- 104 -1199
Parcel No. 1025209005
(270 West 7th Street)
IN THE MATTER OF
US BANK, NA
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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 11th day of February, 2014.
Dubuque City Board of Review,
Respondent- App _Ilee
By
Barry . Lindahl, Esq., City Attorney
Suite 30, Harbor View Place
300 Main Street
Dubuque, IA 52001 -6944
(563) 583 -4113
Counsel for the City of Dubuque Board of Review
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
DOCKET NO. 13E- 104 -1200
IN THE MATTER OF
US BANK, NA
Appellant,
vs.
CITY OF DUBUQUE BOARD OF REVIEW,
Appellee.
STIPULATION OF SETTLEMENT
JAN 3 1 2014
Appellant US Bank, NA, 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, 2013:
Parcel No. 1027152001
(435 Kennedy Road)
has been settled and agreed upon as follows:
Valuation:
Land $438,100.00
Building $869,680.00
Total $1,307,780.00
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 , 2014.
US BANK, NA
by:
Rowland Welch
Jim Schwalls & Associates Inc.
CITY OF DU = UQUE
BOARD 0 R VIEW
by:
arry A. Lindahl, Esq.
uite 330, Harbor View Place
STATE OF IOWA
PROPERTY ASSESSMENT APPEAL BOARD
DOCKET NO. 13E -104 -1200
Parcel No. 1027152001
(435 Kennedy Road)
IN THE MATTER OF
US BANK, NA
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 State Of Iowa
Property Assessment Appeal Board for approval after fourteen days from the
date of this Notice.
Dated this 11th day of February, 2014.
Dubuque City Board of Review,
Respondent- ppellee
By
Bar , A. Lindahl, Esq., City Attorney
Suit- 330, Harbor View Place
300 Main Street
Dubuque, IA 52001 -6944
(563) 583 -4113
Counsel for the City of Dubuque Board of Review