City to refund taxes to Milwaukee Athletic Club
Second major settlement this month

April 30, 2007 -- The city will refund $59,773 in property taxes to the Milwaukee Athletic Club, if the Common Council approves a proposed agreement recommended by the city attorney's office.

The settlement calls for a 24% reduction in the club's 2006 property assessment, from $8.9 million to $6.8 million.

The settlement, to be considered Monday by the Common Council's Judiciary and Legislation Committee, will be the second major property tax case settlement to be considered by aldermen this month.

The council already approved refunding $260,500 in property taxes to Walgreen's, which disputed its assessments for 12 properties for the years 2002 to 2005.

The Milwaukee Athletic Club sued the city in Milwaukee County Circuit Court, alleging the city over-assessed the value of its building, 758 N. Broadway, for the years 2004 through 2006.

"The initial assessment values of the Milwaukee Athletic Club property for the years 2004, 2005 and 2006 were $6,990,000, $6,990,000 and $8,877,400," according to an analysis by the city's Legislative Reference Bureau. "The new assessment value agreed upon by the parties for each of these three years is $6,750,000."