HomeMy WebLinkAbout11. 14-257
JUNE 10, 2014 14-257 RESOLUTION
(CARRIED ___7-0___ LOST _______ LAID OVER _______ WITHDRAWN _______)
PURPOSE: PARTIAL ALLOWANCE OF CLAIM / REFUND OF PROPERTY
TAXES FOR 2013 / PARTIAL RESCISSION OF PROPERTY TAXES
CITIZENSFIRST CREDIT UNION FOR PROPERTY LOCATED AT
2900 UNIVERSAL STREET
INITIATED BY: CITY ADMINISTRATION
WHEREAS, CitizensFirst Credit Union has filed a claim for recovery of excessive
taxes for property it owns located at 2900 Universal Street in the City of Oshkosh for 2013;
and
WHEREAS, the valuation of this property has been reviewed by the Circuit Court for
Winnebago County for 2012 and the Court established the assessed value at $5,031,400
for 2012; and
WHEREAS, the valuation of this property has been reviewed by the City of Oshkosh
Board of Review for 2014 and the Board of Review has established the assessed value at
$5,031,400 for 2014; and
WHEREAS, It is reasonable to establish the 2013 value at the same value
established by the Circuit Court for 2012 and the Board of Review for 2014; and
WHEREAS, the property owner has paid all taxes currently due on the property and
otherwise has complied with all legal requirements pertaining to this claim.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the following property taxes were excessively assessed, in part, per
Wisconsin Statutes section 74.37, and a partial allowance of claim, refund and partial
rescission of taxes due is appropriate:
CitizensFirst Credit Union
2900 Universal Street
Oshkosh, WI 54904
Property ID #1329400200
Partial Reduction: $ 1,439,000.00
New Assessment: $ 5,031,400.00
Rescission/Refund: $ 35,775.11
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:
CITY HALL
215 Church Avenue
P.O. Box 1130
Oshkosh54903 -1130 City of Oshkosh
TO: Honorable Mayor and Members of the Common Council
FROM: Lynn A. Lorenson, City Attorney
DATE: June 5, 2014
RE: Partial Allowance of Excessive Assessment Claim for 2013 / Citizens First
Credit Union / 2900 Universal Street
BACKGROUND
CitizensFirst Credit Union has contested the real estate tax assessment for its property
located at 2900 Universal Street for 2012, 2013, and 2014. The building is made up of
customer banking facilities and the credit union's corporate headquarters, including
office space and supporting facilities. CitizensFirst Credit Union purchased the property
in 1993 for $95,400.00 and made various improvements to the property including an
approximately 37,600 square foot addition in 2009 and 2010 in the amount of
$5,344,685. The Assessor reviewed the property and improvements and for the 2012
tax year established a value of $6,470,000. This value was carried forward for the 2013
tax year and for 2014, the City's contracted assessor independently reviewed the
property and established an assessed value of $6,080,400.
CitizensFirst filed a lawsuit alleging that it had paid excessive taxes for its property
located at 2900 Universal Street for the 2012 tax year. The Circuit Court determined
that the presumption of correctness afforded to the Assessor's valuation had been
overcome and the Court made a determination of value between that of the Assessor
and that requested by CitizensFirst in the amount of $5,031,400. The City has not
appealed this determination.
While the 2012 case was pending, CitizensFirst appeared before the City's Board of
Review and filed a claim for excessive assessment for 2013. The claim was filed in
January of this year and requested a value of $4,984,500. It is this claim for excessive
assessment which is before the Council for action.
On May 9, 2014 CitizensFirst filed an objection before the City's Board of Review
objecting to the 2014 assessment. The Board of Review held a hearing and determined
that the 2014 assessment should be lowered to $5,031,400. The Board considered the
assessor's valuation for the current year and the information submitted by the objector
and determined that the amount established by the Court represented a fair and
equitable value for the property for 2014.
®N ®I YSIS
Based upon the determination of the Circuit Court for 2012 and the determination of the
Board of Review for the current year, city staff is recommending that the Council
partially allow the claim for excessive assessment by CitizensFirst for their property
located at 2900 Universal Street to establish an assessed value of $5,031,400
consistent with the Circuit Court and Board of Review determinations.
This matter has been fully litigated in the circuit court and before the Board of Review
and in both cases those bodies have determined that the current assessed value was
more appropriately established at $5,031,400.
The fiscal impact of the circuit court decision is that the City will have to refund
$35,775.11 in taxes that had been paid. The City will chargeback to other taxing
jurisdictions their share of the refunded amount as permitted by sec. 74.41 of the
Wisconsin Statutes.
It is recommended that the Council approve the proposed resolution providing for a
partial allowance of CitizensFirst claim for excessive assessment for their property
located at 2900 Universal Street.
Approved:
Mark A. Rohloff
City Manager