Jake Lean presents property valuation appeal to Waukesha Board of Review

The City of Waukesha's Board of Review convened on July 11, 2025, to address a significant property assessment case involving RCL Investments. The property in question, located at 309 Arlington Street, was assessed at a total value of $1,000,007.04, with land valued at $122,600 and improvements at $1,624,000.

During the meeting, Jake Lean, representing RCL Investments, presented evidence to contest the current assessment. Lean argued for a revised valuation of $892,983, citing increased operating expenses and challenges in the insurance market as key factors influencing the property's financial performance. He referenced detailed income and expense statements to support his claim, although the Board noted they did not have access to a specific email he mentioned.

The Board of Review emphasized the legal requirement to uphold the assessor's valuation unless the taxpayer can provide compelling evidence to prove otherwise. Lean was informed that the burden of proof rested on him to demonstrate that the assessed value was incorrect and to justify his proposed valuation.

As the meeting progressed, the Board allowed Lean to present his case, followed by the City Assessor's opportunity to defend the original assessment. The process included a chance for both parties to ask questions and provide rebuttals before the Board made its final determination.

This case highlights the ongoing dialogue between property owners and city officials regarding property valuations, a critical issue for local taxation and economic development. The Board's decision will have implications not only for RCL Investments but also for the broader community as it navigates the complexities of property assessments and their impact on local revenue.