Sponsor
Alderman Shakoor
Title
Settlement of Racine County Circuit Court Cases 2015CV0745 and 2016CV1122
Resolved, that City Council acknowledge and endorse authorization to execute a settlement agreement and payment in Racine County Circuit Court Cases 2015CV0745 and 2016CV1122 for partial refunds of 2014 and 2015 real estate property taxes, costs and interest totaling $84,663.00.
Further resolved, that authorization is given to execute a settlement agreement and payment for 2016 real estate property taxes, costs and interest totaling $50,124.00.
Further resolved, that settlement of Racine County Circuit Court Cases 2015CV0745 and 2016CV1122; and settlement of claim of excessive assessment for 2016 real estate property taxes in the cumulative principal amount of $134,545.66 plus cumulative interest through June 30, 2017 of $222.96 plus cumulative per diem interest of $1.00 starting July 1 through payment date for an estimated total of approximately $134,788.00 is approved.
Fiscal Note: There are sufficient funds available for payment of this settlement in account 11202-53420, Misc-Property Taxes Cancelled. Approximately half of the refund will be charged back to the other taxing jurisdictions. Principal and interest by year is as follows: 2014 $41,979.77 + $51.29; 2015 $42,589.32 + $42.88; 2016 $49,976.57 + $147.79.