HomeMy WebLinkAbout09-117APRIL 14, 2009 09 -117 RESOLUTION
(CARRIED 6 -0 LOST LAID OVER WITHDRAWN )
PURPOSE: RESCIND PERSONAL PROPERTY TAXES FOR MONARCH
MANAGEMENT, LLC, D /B /A TAILSPIN TOMMY'S PIZZA &
MONEYLINE MORTGAGE
INITIATED BY: DEPARTMENT OF FINANCE
WHEREAS, the following personal property taxes were assessed improperly, per
Wisconsin State Statutes 74.33 (1) (d), and rescission of the tax due is appropriate:
Monarch Management, LLC d /b /a Tailspin Tommy's Pizza
1964 S. Koeller Street
Oshkosh, WI 54904
(Personal Property ID #085890000) $707.15
Moneyline Mortgage, LLC
2065 S Washburn Street
Oshkosh, WI 54904
(Personal Property ID #085900000) $264.06
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City Officials are hereby authorized and directed to rescind the
sum of $971.21.
BE IT FURTHER RESOLVED that the proper City Officials are authorized and
directed to seek compensation from the other taxing entities per Wisconsin State Statutes
74.41.
Funds for this purpose are appropriated from:
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City of Oshkosh
Finance Department
215 Church Ave., PO Box 1130
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Qb (920) 236 -5080 (920) 236 -5039 FAX
ON THE WATER
MEMORANDUM
TO: Honorable Mayor and Members of the Common Council
FROM: Peggy Steeno, Finance Director
DATE: April 7, 2009
RE: Authorize Rescission of Personal Property Taxes
BACKGROUND
Per Wisconsin State Statutes, the removal of Property Taxes needs to be authorized by the Common
Council. Statues enumerate six specific conditions under which a rescission is appropriate / necessary.
There are currently two business that have been incorrectly overcharged for 2008 personal property
taxes, and, therefore, the amount overcharged needs to be rescinded. Neither of theses businesses have
been in operation in the City since prior to January 1, 2009, therefore, the personal property tax is not
valid.
ANALYSIS
Below are the details and reason that these are being presented for rescission. In addition, the specific
condition as outlined by State Statues is included:
Personal Property 085890000 / Monarch Management, LLC d/b /a Tailspin Tommy's Pizza / 1964
Koeller Street - $707.15 — (State Statute 74.33 (d) — The property is not located in the taxation district
for which the tax roll was prepared.) — This business was not operating in the City of Oshkosh in 2009;
however, the City was never notified. Therefore, our records were not correct. This has been verified by
the Assessor's office and the correction has been made.
Personal Property 085900000/ Moneyline Mortgage LLC / 2065 S Washburn Street - $264.06 —
(State Statute 74.33 (d) — The property is not located in the taxation district for which the tax roll was
prepared.) This business was not operating in the City of Oshkosh in 2009; however, the City was never
notified. Therefore, our records were not correct. This has been verified by the Assessor's office and
the correction has been made.
FISCAL IMPACT
The impact of the above rescissions is short term only, since, in the year that the taxes are rescinded, the
City notifies the Department of Revenue (DOR) of the rescissions, and the DOR adjusts the equalized
value for the following year to account for the difference. These adjustments are built into the tax rate
for all taxing authorities for the following year.
RECOMMENDATION
Staff recommends that Council authorize this resolution to rescind the above noted taxes as outlined.
spectfully Su bm i t t ed, Approved:
Peggy Mark Irohloff
Finance Director City Manager