Fiscal Note
The $255,313 received as a result of this settlement will be apportioned between the City and the other jurisdictions that levied taxes on these properties during the tax years in question. The method of allocation has yet to be determined by the City Attorney, but it is likely that the City will receive between $72,000 and $94,000 of the total settlement after distributions are made to the other governmental units. The amount retained by the City will be recognized as additional general fund revenue in 2006.
Title
Approving settlement of Use Value Penalty cases which are pending in the Dane County Circuit Court.
Body
WHEREAS, in 2002, the City commenced a series of seven cases against developers for property tax penalties under Wisconsin's Agriculture Use Value Law; and
WHEREAS, the cases are very complex, fact intensive, and involve legal issues that have not been addressed by appellate court decisions in Wisconsin; and
WHEREAS, the Office of the City Attorney has reached tentative settlements in six of the seven cases, and has advised the Common Council with respect to the settlements; and
WHEREAS, the City Attorney recommends that the City accept the settlements, and accept the use value penalties thereunder.
NOW, THEREFORE, BE IT RESOLVED that the City agrees to settle the use value penalty cases on the terms and conditions outlined by the City Attorney; and
BE IT FURTHER RESOLVED, that the City Attorney shall execute any and all documents to complete the settlements.