Board approves Walgreens stipulation and waiver after small value reduction

The Pleasant Prairie Board of Review approved both a stipulation and an updated waiver for the Exchange Right Income Fund property (Walgreens) on Wednesday after assessment staff reported a small change in the property's assessed value. Assessment staff said the owner submitted an updated waiver to circuit court and recommended the board accept the stipulation and the waiver.

"This property in getting information from that the Board subpoenaed, we did make a slight change in value reducing the value," Rakovita, the village assessor, told the board. Board members clarified procedure, agreeing to vote first on the stipulation and then on the waiver. The board approved the stipulation on a roll-call vote and subsequently approved the waiver, with all voting members recorded as yes.

Board discussion noted the owners retained their right to appeal to circuit court even after agreeing to the stipulation and the updated waiver form was before the board for approval or denial.