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Board approves $1.5 million reduction in Walmart’s 2025 assessment, pending cases dismissed
Summary
The West Bend Board of Review accepted a stipulation reducing Walmart’s 2025 assessment by $1.5 million and agreeing to dismiss pending appeals for prior tax years with no refund.
The West Bend City Board of Review on July 16 approved a stipulation that reduces the 2025 assessment for Realty Income Properties 19 LLC (Walmart) and settles multiple pending appeals.
Under the stipulation, the assessor and the taxpayer agreed to lower Walmart’s 2025 assessed value by $1.5 million. Paragraph 4 of the stipulation sets the 2025 assessment at $19,985,000, down from $21,485,000. Paragraph 3 shows the decrease was applied to the land component so the improvement values remain unchanged; the land value was aligned with the Home Depot parcel across the street.
"They will dismiss all of the pending cases, with no refund, for the prior years," Ian Proust, attorney for the city, said while describing the settlement. The board was told the dismissal covers pending litigation for tax years 2022, 2023 and 2024.
The city representative noted the settlement resolves several years of litigation and avoids the cost of further court proceedings. The city attorney said the agreement is consistent with prior stipulations the common council approved to settle disputes with other large taxpayers.
A motion to approve the stipulation carried after a second; board members signified approval by saying “aye.” The stipulation was signed by counsel representing Walmart and by the city attorney; the chair signed the document for the board. The assessor’s office will update the assessment roll to reflect the change and the dismissal of the pending appeals.
Board members and counsel said they expected litigation over property values to continue in future years, but that settling pending suits and avoiding potential refunds made the settlement administratively appropriate for the city at this time.
