Title
Resolution to approve Partial Rescission of Property Taxes for Parcel 414-9991-009, 11000 W. Theo Trecker Way.
Body
WHEREAS, the State of Wisconsin, Department of Revenue, is responsible for assessing and valuing all manufacturing property in the State of Wisconsin per Wisconsin State Statute 70.995; and
WHEREAS, the State of Wisconsin, Department of Revenue, has notified the City of West Allis on December 18, 2017, through NOTICE OF DETERMINATION from the State Board of Assessors, after the City of West Allis completed its tax roll process for 2017, of a reduction in assessed value and the corresponding reduction in the 2017 tax bill for the following property:
Quad Graphics, Inc.
11000 W. Theo Trecker Way
West Allis, WI 54904
(ID #414-9991-009)
Reduction in Property Value: ($1,638,900)
Reduction in 2017 Property Taxes: ($46,344.21); and
WHEREAS, Wisconsin State Statutes 70.511 (2) requires refund of property taxes so assessed when there is a reduction in the property value, and rescission of a portion of the tax due is appropriate; and
WHEREAS, the property taxes are not due to the City of West Allis until January 31, 2018, so no statutory interest is due.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and the Common Council of the City of West Allis that the proper City Officials are hereby authorized and directed to rescind the sum of $46,344.21 from the 2017 Property Tax Bill for said property.
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.
ADM\ORDRES\2018\AF R2018.7