HomeMy WebLinkAbout10-355NOVEMBER 23, 2010 10 -355 RESOLUTION
(CARRIED 6 -1 P LOST LAID OVER WITHDRAWN )
PURPOSE: RESCIND PERSONAL PROPERTY TAXES
INITIATED BY: DEPARTMENT OF FINANCE
WHEREAS, the following property taxes were assessed improperly, per Wisconsin
State Statutes 74.33 (1) (d), and rescission of the tax due is appropriate:
Stella & Finn LLC
428 N. Main Street
Oshkosh, WI 54901
(Personal Property ID #132510000) $150.83
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 $150.83.
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:
Account No. 100- 0908 - 6469 -00000 — Tax Refund Account
City of Oshkosh
Finance Department
215 Church Ave., PO Box 1130
Oshkosh, WI 54903 -1130
OfHKOIH (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: November 18, 2010
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. Statutes enumerate six specific conditions under which a rescission is appropriate / necessary.
There is currently one business that has been incorrectly charged for Personal Property Taxes in the most
recent tax year; therefore, the amount overcharged needs to be rescinded and refunded. The Assessor's
staff verified that this business is no longer operating in the City of Oshkosh.
ANALYSIS
Below are the details and reason that this item is being presented for rescission. In addition, the specific
condition as outlined by State Statutes is included:
Personal Property 132510000 / Stella & Finn LLC / 428 N. Main Street - $150.83 — (State Statute
74.33 (d) — The property is not located in the taxation district for which the tax roll was prepared.) —
This business ceased operations in the City of Oshkosh in August of 2008; 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The impact of the above rescission is short term only, since, in the year that the taxes are rescinded, the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 and refund the above noted taxes as
outlined.
Res ectfully Submitted, Approved: rIY144
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Peggy Steeno Mark Rohloff
Finance Director City Manager