Arguing that its high visibility downtown building was over assessed by nearly $15 million last year, the owners of twin office towers at 330 E. Kilbourn Ave are suing the city in bid to lower its taxes.
The office building should be assessed at no more than $36.98 million, its owner said in a lawsuit filed this month in Milwaukee County Circuit Court. The suit noted the city assessed the office building at $51.7 million last year.
The New York-based owner argued that since it paid 2024 taxes of $1.27 million for the building, it is owed a refund of $422,392.
The owners make a similar argument regarding its parking lot at 330 E. Wells St., saying it is owed a refund of at least $85,994 for 2024 taxes it paid for the lot.
The properties are owned by 330 Kilbourn Wisconsin Realty LP, a partnership headquartered at One World Trade Center in New York, Wisconsin state records show.
Wisconsin corporate records show little information about the individuals and companies behind the partnership.
The two building property is 14 stories high and houses a variety of offices, including attorneys and other professionals. The Milwaukee Journal Sentinel is a tenant in the building.
