2026

Page 1 of 5 VILLAGE OF BELLEVUE BOARD OF REVIEW A meeting of the Board of Review, of the Village of Bellevue, was held at 3100 Eaton Rd., Green Bay, WI 54311, on Wednesday, June 3, 2026, and was called to order at 2:00 p.m. by Director of Finance/Clerk-Treasurer Michelle Seidl. Roll Call: Present – Village President Steve Soukup, Village Trustee Jackie Krull, Village Trustee Tom Murphy, Director of Finance/Clerk-Treasurer Michelle Seidl. A quorum of the Board of Review was present. Also in attendance: Administrator Benjamin Krumenauer, Deputy Clerk Lisa Loberger, Assessor Mike Denor, and Joseph Rekrut from Reinart Boerner Van Deuren S.C. on behalf of Walgreens Co. The year 2026 is a maintenance year for the Village of Bellevue and does not constitute a revaluation year for properties included in the tax roll. Confirmation of Notice: Board of Review Notices and Open Meeting Law (agenda) Notices were posted/published at the following locations: • Village of Bellevue Village Hall, 3100 Eaton Rd., Bellevue, WI 54311 (on posting board and on entry door) on Wednesday, February 25, 2026 • Village of Bellevue Public Works Building, 2828 Allouez Ave., Green Bay, WI 54311 on Wednesday, February 25, 2026 • Bank First, 2747 Manitowoc Rd., Green Bay, WI 54311 on Wednesday, February 25, 2026 • www.villageofbellevuewi.gov on Wednesday, February 25, 2026 • Green Bay Press Gazette on Wednesday, May 20, 2026 Amended Open Meeting Law (agenda) Notices were posted at Village of Bellevue Village Hall, 3100 Eaton Rd., Bellevue, WI 54311 (on posting board and on entry door) and on the Village of Bellevue website www.villageofbellevuewi.gov on Monday, June 1, 2026. Selection for Chairperson: Motion made by Director of Finance/Clerk-Treasurer Michelle Seidl with a second made by Trustee Tom Murphy to appoint Trustee Jackie Krull Chairperson for the Board of Review. Motion carried unanimously. Selection of Vice Chairperson: Motion made by Director of Finance/Clerk-Treasurer Michelle Seidl, with a second made by President Steve Soukup, to appoint Trustee Tom Murphy Vice Chairperson for the Board of Review. Motion carried unanimously. Director of Finance/Clerk-Treasurer Michelle Seidl confirmed that required training was completed and submitted to the Wisconsin Department of Revenue as follows: Director of Finance/Clerk-Treasurer Michelle Seidl 04/21/2026 Deputy Clerk Lisa Loberger 05/07/2026 Chair (Trustee) Jackie Krull 05/27/2026 Vice Chair (Trustee) Tom Murphy 06/03/2026 Page 2 of 5 Ordinance §114-7 Income and Expense Information Confidential Director of Finance/Clerk-Treasurer Michelle Seidl read aloud the full text of Village of Bellevue Ordinance § 114-7(5), Limitations on Right to Access, pertaining to the confidential handling of income and expense information obtained by the assessor pursuant to W.S.A. § 70.47(7)(af). Assessment Roll and Sworn Statements. The Board of Review was provided with both an updated electronic copy and a paper copy of the complete assessment roll. Chair Krull confirmed receipt of the complete assessment roll. Summary of Assessor’s Report Provided by Assessor Mike Denor Assessor Mike Denor provided an overview of the current assessment year. He reported that no attendees were present at Open Book. Assessor Denor stated that the Village’s overall assessed value increased by $45,386,000, to $2,409,087,000, representing a just under 2% increase. Of that amount, approximately $18,800,000 of the increase occurred within the Tax Incremental Districts, while approximately $26,000,000 occurred outside the Tax Incremental Districts. A total of 323 Notices of Changed Assessment were issued on May 19, 2026. In addition, 70 new homes, reflecting full or partial values, were added to the assessment roll as of January 1, 2026. Tax Increment District (TID) 1 increased by $6,575,000, bringing its total value to approximately $96,665,000. Since its inception in 2013, when the base value of TID 1 was $7,668,000, the district experienced an increment increase of nearly $89,000,000. The assessed value of TID 2 increased by approximately $11,145,000, attributable primarily to new residential construction in the Willow Glen and Willow Creek areas. The base value of TID 2 in 2016 was $2,420,000, and its current value is approximately $13,555,000, reflecting an increment of about $11,000,000. Assessor Denor noted that the Village experienced a highly productive year in terms of construction activity. Assessor Denor noted a trend among larger municipalities, such as Ashwaubenon, Howard, Suamico, and Ledgeview, to conduct more frequent market adjustments or revaluations on a structured cycle rather than waiting until ratios decline significantly. He noted that Howard has maintained a policy of market adjustments every three years since approximately 1994, and that some municipalities have incorporated revaluation costs into their assessor retainer contracts on a three-year cycle to assist with budgeting. Regarding market conditions, Assessor Denor observed that residential values remain strong but appear to be appreciating at a slower pace than the previous four to five years. Commercial properties have not seen the same level of appreciation as residential. He noted that residential sales continue to frequently exceed list prices. Vice Chair Murphy discussed the availability of assessment data in sortable Excel format, noting that such a report had previously been obtained from the Brown County Clerk's office by request. Review of the Assessment Roll Examination of Roll Page 3 of 5 A question was raised regarding the assessed value of Parcel B-2295 (East Shore Professional Development Center, 2581 Development Drive), assessed at a total value of approximately $1,530,000 with improvements at $1,331,000. Assessor Denor clarified that this is a condominium structure with four to five individual tax parcels, and that the figure in question represents only the largest unit. The overall combined value across the condo units is proportionally higher. Correction of property descriptions and calculation errors – Assessor Denor identified one notable change to the assessment roll for the current year: Parcel B-1717, (owned by a California-based owner) previously leased by Lakeland College and now currently by Immel Construction. Following review of the income approach, including consideration of market rent versus the actual below- market lease in place, the assessed value was reduced from approximately $3,450,000 to $3,275,000. Assessor Diener explained that under Wisconsin case law, assessments must be based on market rent rather than any specific lease in place. The owner's representative, Gary Kullenberg, had sought a value of closer to $2,700,000. The resulting figure reflected a negotiated middle ground. Director of Finance/Clerk- Treasurer Seidl confirmed that the updated electronic assessment roll, received earlier in the day, reflected an assessed value of $3,247,000 for the land and improvements combined for Parcel B-1717 (Grant James Edward Family Trust), consistent with the corrected assessment. Assessor Denor also briefly addressed a neighboring strip mall owner who had a Texas- based tax consulting firm (identified as "Onward") contact his office regarding a potential objection, but it was never followed through on. Assessor Denor mentioned that Walgreens has become more aggressive statewide in contesting assessments, as has Walmart as a recurring appellant in multiple municipalities. Assessor Denor also discussed the assessment treatment of agricultural (farmed) land, clarifying that even land with high development value — such as parcels near the Costco corridor — must be assessed at the agricultural use value of approximately $300 per acre as long as it continues to be actively farmed, per Wisconsin law. He further noted that when land is converted from agricultural to residential or commercial use, a conversion fee of approximately $1,000 per acre is assessed against the new owner, with the village receiving a portion from the county. Village Director of Finance/Clerk- Treasurer Seidl confirmed that in 2025, the village received two payments from Brown County related to agricultural use conversion fees totaling approximately $8,350. Correction of omitted property Village Clerk Seidl confirmed there were no omitted properties. Eliminate double assessed property No double-assessed properties were identified. Page 4 of 5 There were no corrections of error identified, under state law (Sec. 70.43, Wis. Stats), to be certified. The Village Assessor verified that there were no additional changes from the open book to be included in the assessment roll. Board of Review members noted that they had examined the assessment roll in their capacity as taxpayers, consistent with training guidance. No members of the general public were present to request examination of the assessment data. Intent to File Objections • Walgreens Co. for Village of Bellevue Parcel B-2408, 1979 Lime Kiln Rd., Green Bay, WI 54311 received 04/29/2026 • Wal-Mart Real Estate Business Trust for Village of Bellevue Parcel B-230, 2292 Main Street, Bellevue, WI 54311 received 5/29/2026 Objections Received: • Walgreens Co. for Village of Bellevue Parcel B-2408, 1979 Lime Kiln Rd., Green Bay, WI 54311 Joe Reckert of Reinhart Law appeared on behalf of Walgreens Co. and introduced himself to the Board of Review. Village Director of Finance/Clerk-Treasurer Seidl confirmed that all procedural requirements had been met: the original notice of intent was received on April 29, 2026 (well within the 48-hour requirement); the Objection to Real Property Assessment Form PA-115A and the Request for Waiver Form PA-813 were received on May 26, 2026 (though the letter was incorrectly dated March 26, 2026); the PA-105 Agent Authorization Form and the lease agreement confirming Walgreens' authority, as tenant, to contest the assessment was received on June 1, 2026. Attorney Reckert explained that the primary reason for the waiver request was the existence of ongoing litigation in circuit court regarding the 2025 assessment of the same property. A stipulated scheduling order had been filed on April 29, 2026, with a pretrial conference anticipated in February 2027. He noted that a settlement offer had been extended with respect to the 2025 assessment and a response has not yet been received. The intention is to consolidate the 2025 and 2026 matters and resolve them together, ideally through settlement. Chair Krull outlined the implications of approving the waiver: the Board would relinquish its authority to conduct its own hearing, take testimony, and cross-examine witnesses, and the matter would proceed directly to circuit court. She noted that even if the Board were to uphold the assessor's value at a hearing, Walgreens would retain the right to file a claim of unlawful taxes by January 31 and proceed to circuit court regardless — a point confirmed by both Assessor Diener and Attorney Reckert. Village Clerk Seidl expressed reservations, noting that approving the waiver removes the matter from the Board's control and that she personally supports the current assessed value. Vice Chair Murphy stated that, absent the existing litigation, he would likely have recommended denying the waiver but acknowledged that the pre-existing circuit court case made consolidation the most practical course. Assessor Denor indicated his support for granting the waiver given the status of the 2025 appeal. Page 5 of 5 Chair Krull proposed a motion inclusive of specific reasoning reflecting the Board's deliberation: Motion to approve the request for waiver of Board of Review hearing for Walgreens Co. for Parcel B-2408, with a stated reason of benefits to the Village of Bellevue of having a court record, to allow efficient use of the municipal assessor's time, and due to the presence of existing litigation, was made by Chair Jackie Krull and seconded by Vice Chair Tom Murphy. The motion carried 4-0. Village Director of Finance/Clerk-Treasurer Seidl completed Form PA-813 with the Board's stated reasons and provided a signed copy to Attorney Reckert prior to his departure. • Walmart Real Estate Business Trust Walmart Real Estate Business Trust was listed as a second intent to file an objection. No representative appeared before the Board during the two-hour session nor was a completed Objection to Real Property Assessment Form PA-115A form received. The Board noted for the record that Walmart did not appear prior to the close of the session at 4:00 PM. ADJOURN - - Motion by Vice Chair Tom Murphy with a second by President Steve Soukup to adjourn. Motion carried. (Adjourned 4:00 p.m.) Michelle Seidl Director of Finance/Clerk-Treasurer