Oelke Dokie Holdings LLC.pdf
Oelke Dokie Holdings LLC Petitioner V Township Of Frenchtown Respondent · 26-002422-TT
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GRETCHEN WHITMER GOVERNOR STATE OF MICHIGAN DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS LANSING CEIVED MAY 14 2026 MICt-.omuv TAX TRIBUNAL MARLON I. BROWN, DPA DIRECTOR PROPERTY TAX APPEAL PETITION FORM VALUATION / UNCAPPING Do not use this form to appeal Classification, Principal Residence Exemption, Qualified Agricultural Exemption, Other Exemptions, Special Assessments, or Non-Property tax disputes. Pursuant to Tax Tribunal Rule (TTR) 279, you MUST submit a copy of the notice giving rise to the appeal (i.e., Board of Review Decision or other notice) with this petition, if applicable. If you do not submit this document, you may be held in default. Section 1: Petitioner’s Contact Information First Name MI Last Name/Company Name Oelke Dokie Holdings LLC Mailing Address (No., Street, P.O. Box or Rural Route) 7667 Mentel Rd City or Town State ZIP Code Frenchtown Mi 48166 Telephone Number 3136490560 Email Address (do not enter unless you want MTT to send all correspondence via email) geno1979@aol.com Section 2: Petitioner’s Attorney/Authorized Representative’s Contact Information First Name M.1. Last Name Geno Scalccuci Firm Name (if any) Mailing Address (No., Street, P.O. Box or Rural Route) 7667 Mentel RD City or Town State ZIP Code Newport mi 48166 Telephone Number 3.1 36490560 Emall Address (do not enter unless you want MTT to send all correspondence via email) geno1979@aol.com Section 3: Subject Property Information *use the multiple parcel form for additional, contiguous parcels. How many parcels are you If you are appealing more than one parcel, are they contiguous or adjoining? appealing? [1 Yes* BA no **If No, you must file separate appeals for each parcel Property Address (No., Street) 118 Cole Rd City or Town County State ZIP Code Newport MI 48166
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STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON I. BROWN, DPA GOVERNOR LANSING DIRECTOR Section 4: Check which of the following you are appealing (check ali that apply) True Cash and Taxable Value [0 Taxable Value Only (calculation) [7] uncapping of Taxable Value Section 5: Explain the Reason for this Appeal The property is significantly over-assessed based on a recent arm’s-length market transaction, extensive market exposure, and an analysis of its income-producing capacity. Market Evidence: The property was purchased on 11/07/2025 for $70,000. The City's 2026 assessment implies a market value (True Cash Value) of $168,000, which is 240% of the actual purchase price. Market Exposure: Per MCL 211.27, True Cash Value is the 'usual selling price.' The subject property was actively marketed for 310 days prior to sale, proving that $70,000 represents the true market ceiling and ‘usual’ price. (See Exhibit C). Income Approach: The property's actual Net Operating Income (NOI) is $2,931. At the City's implied value, this results in an irrational 1.74% capitalization rate. A standard market cap rate of 8.5% supports a value closer to $35,000. (See Exhibit A and Exhibit D). | request the True Cash Value be set at the recent purchase price of $70,000, with a corresponding Assessed and Taxable Value of $35,000. See attached Exhibits A, B, C, and D for full supporting data and the ALTA Statement. Section 6: Jurisdictional Issues Did you protest the assessment at a Board of Review (BOR)? [%]) Yes [Hl] No If Yes, check which BOR you attended: March O July OJ December If No, please check the applicable reason(s): | Not required to attend Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section 5) 0 Appealing within 35 days of State Tax Commission Order 0 Appealing within 35 days of receipt of Notice of Uncapping Other If you checked “other” above, explain:
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STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON I. BROWN, DPA GOVERNOR LANSING DIRECTOR Section 7: Valuation Information *use the multiple parcel form for additional, contiguous parcels. Parcel Number: 07 985 01 1 00 Classification of Property: ~~ Real Personal [J (check one) Agricultural 1 ~~ Commercial 4 Industrial (] Residential (J ~~ Timber-Cutover (1 ~~ Developmental [1 ~~ Utility [] (check one) Assessed Value (also known as State Equalized Value) established | Taxable Value established by the Board of Review: by the Board of Review: 84000 84000 What do you believe is the fair market value (also known as true cash value)? 70000 What do you believe is the assessed value? (multiply true cash What do you believe is the taxable value? (cannot exceed value by .5) 35000 assessed value) 35000 Fee Information Does the property have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at issue? [1 ves No If you answered yes to the above question, you are not required to pay any filing fees. Ifthe property does not have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at issue, the filing fee is based on the greater of the State Equalized Value or Taxable Value in dispute. If you are appealing more than one parcel, the parcel with the highest State Equalized Value or Taxable Value in dispute will be used to determine your filing fee, plus $25.00 will be added for each additional parcel being appealed, not to exceed a total filing fee of $1,000.00 If your property is residential property (see MCL 205.762) and the State Equalized Value or Taxable Value in contention is: Filing Fee is: $100,000.00 and under $125.00 $100,000.01 to $500,000.00 $200.00 $Over $500,000.00 $300.00 Ifthe property is NOT residential property (see MCL 205.762) and the State Equalized Value or Taxable Value in contention is: Filing Fee is: $100,000.00 and under $250.00 * Plus $25.00 for each additional parcel, as indicated above. If the property is NOT residential property and the State Equalized Value or Taxable Value in dispute is $100,000.01 or greater the appeal does not qualify for Small Claims. Therefore, an Entire Tribunal petition must be filed. Signature *required yy or Attorney/Authorized Representative’s Signature: m2 Isl _.
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- 2026 BOARD OF REVIEW DECISION FROM FRENCHTOWN TOWNSHIP ASSESSO 2744 VIVIAN ROAD MONROE, MI 48162-9386 NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL: PROPERTY IDENTIFICATION: (Parcel Code required. Property address and legal description optional): 0798501100 118 COLE RD OELKE DOKIE HOLDINGS LLC 7667 MENTEL RD SEC 29 T6S R9E; MONROE PROFESSIONAL ASSOCIATION NEWPORT, MI 48166 CONDOMINIUM ;UNIT 11, BUILDING E PARENT PARCEL 58- 07-124-017-11 THIS PROPERTY IS CLASSIFIED 201i (COMMERCIAL-IMPROVED) Thank you for attending this years March Board of Review. The Board has reviewed the information you supplied and the data necessary to compute your assessment and taxable value. The Board has completed their review of parcel number 07 985 011 00 They have made the following determination based on the information you supplied. Board of Review Comments ASSESSED VALUE PROTEST, ASSESSMENT DEEMED ACCURATE 2026 ORIGINAL ASSESSED VALUE 84,000 | 2026 "BOARD OF REVIEW" ASSESSED VALUE 84,000 | (If the above amounts are the same, no revisions have occured) 2026 ORIGINAL TAXABLE VALUE 84,000 2026 "BOARD OF REVIEW" TAXABLE VALUE 84,000 2026 PRINCIPAL RESIDENCE EXEMPTION/QUALIFIED AG 0.0000 Please feel free to contact the assessor at the address listed above or call if you have any questions. ‘Effective March 1, 2013, the Tribunal is no longer able to accept Small Claims letter appeals. Rather, you are required to file a petition to nitiate a new Small Claims appeal. Petition forms are available on this website." attp://www.michigan.gov/taxtrib/0,4677,7-187-38254---,00.html
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EXHIBIT A: COMMERCIAL PROPERTY TAX APPEAL SUMMARY (2026) Property Identification Property Address 118 Cole Road, Unit #11, Newport, MI 48166 Parcel ID 07 985 011 00 Owner Oelke Dokie Holdings LLC Classification Commercial Real (201) 1. Sales Comparison Approach (Market Evidence) The most reliable indicator of True Cash Value (TCV) is a recent arm's-length transaction. The subject property was purchased just prior to the 2026 tax year assessment date. e Purchase Price: $70,000.00 e Purchase Date: November 7, 2025 eo Market Exposure: The property was actively marketed on the open market for approximately 12 months (365+ days). e Conclusion: The fact that the property required a full year of market exposure to secure a $70,000 offer demonstrates that this price represents the absolute ceiling of its market value. 2. Income Capitalization Approach (Investment Evidence) As an income-producing commercial asset, the property's value is fundamentally tied to its ability to generate net income. The following analysis compares the City's implied valuation against actual performance. Income/Expense Item Annual Amount Notes Gross Potential Income $12,000.00 ($1,000/mo potential rent) Vacancy & Collection Loss ($600.00) Standard market allowance (5%) Effective Gross Income (EGI) [$11,400.00 Actual anticipated revenue Operating Expenses (75% ($8,469.00) Taxes, Insurance, Utilities, ratio) Maintenance Net Operating Income (NOI) ($2,931.00 ctual Income available for
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o Market Standard Cap Rate: 8.5% (Typical for local professional office) e Indicated Value by Income: $34,482 ($2,931 NOI + 8.5% Cap Rate) 3. Summary of Contention The City’s valuation is 240% of the actual purchase price and assumes a rate of return (1.74%) that no rational commercial investor would accept. Petitioner requests the values be adjusted to reflect the 2025 purchase price. Value Type City (Current) Petitioner (Requested) [True Cash Value (TCV) $168,000 $70,000 Assessed Value (SEV) $84,000 $35,000 Taxable Value (TV) $84,000 $35,000 Respectfully Submitted, Oelke Dokie Holdings LLC Geno R Scalccci
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EXHIBIT B: ALTA SETTLEMENT STATEMENT (BUYER) Property Identification Property Address Monroe Professional Association Condominium, Unit #11 118 Cole Road, Monroe, MI 48162 Buyer (Borrower) Geno Scalcucci Seller David E. Foster Closing Method Land Contract Settlement / Disbursement Date November 7, 2025 File / Escrow No. LTM251548 1. Summary of Transaction This exhibit consists of the ALTA Settlement Statement (Buyer) documenting the arm’s- length acquisition of the subject property and confirming the actual consideration exchanged. Description Debit Credit Contract Sale Price $70,000.00 Land Contract Proceeds $70,000.00 Recording Fee (Deed) $35.00 Memorandum of Land $30.00 Contract Recording Closing Fee - Lawyers Title ~~ $400.00 Agency of Monroe E-Recording Fee $45.00
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EXHIBIT C: MLS LISTING & MARKET EXPOSURE EVIDENCE Property Identification Property Address Monroe Professional Association Condominium, Unit #11 118 Cole Road, Monroe, MI 48162 MLS Number 50165470 Listing Brokerage Berkshire Hathaway HomeServices - Kee Realty Property Type Commercial / Industrial Condominium (Medical Use) Building Size 1,023 Square Feet Year Built 1960 Parcel Number 70-985-011-00 1. Listing Overview This exhibit consists of the Multiple Listing Service (MLS) record for the subject property, documenting its public market exposure, physical characteristics, listing history, and ultimate sale price. The MLS data provides independent third-party evidence supporting the Sales Comparison Approach and confirming that the subject was properly exposed to the open market. 2. Marketing & Exposure History Event Date Listing Status Price January 29, 2025 Listed - Active $99,900 December 5, 2025 Sold $70,000
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Price per Square Foot $98 PSF Original List Price $99,900 4. Market Evidence Significance The MLS record establishes that the subject property was publicly marketed, had extended market exposure, and sold at a negotiated price following open-market listing. This confirms that the $70,000 sale price represents a market-derived outcome suitable for valuation purposes. Respectfully Submitted, Oelke Dokie Holdings LLC Geno Scalcucci
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EXHIBIT D: MARKET RENT COMPARABLES (FRENCHTOWN / NEWPORT) Property Identification Property Address Property Type Owner Contended Market Rent 1. Comparative Market Analysis (2026) 118 Cole Road, Unit #11, Newport, MI 48166 Professional / Office Condominium Unit Oelke Dokie Holdings LLC $1,000 per month ($12,000 annually) To support the Income Capitalization Approach applied to the subject property, a market survey of comparable professional and office properties located within the Frenchtown Township and Newport sub-markets was conducted. Current market evidence indicates that Class C professional office space generally rents between $7.00 and $12.00 per square foot. Comparable Space Type Location 7825 N Dixie Hwy, General Office Newport 7505 Grafton Rd, Professional Office Newport N Telegraph Rd, Commercial / Office Frenchtown SUBJECT: 118 Cole Professional Unit Market Rent (PSF) $7.00 - $10.00 $10.00 - $12.00 $12.00 - $15.00 ~$10.50 Analysis Directly comparable Newport sub-market; supports lower-end professional rent levels. Most comparable for professional /medical- style utility. High-traffic corridor; establishes an upper pricing ceiling. Consistent with
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The concluded market rent of $1,000 per month ($12,000 annually) is fully supported by observable market evidence. The City’s implied valuation assumes rental rates well in excess of $2,000 per month, for which no market support exists in the Frenchtown or Newport areas. Respectfully Submitted, Oelke Dokie Holdings LLC
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