LAWSUITS NEWS & LEGAL INFORMATION
Property Tax Assessment
Morris, IL: (Dec-13-07) The Grundy County Board brought charges against Exelon Generation Company, over it's property tax assessment. Sources stated that Exelon challenged the 2006 equalized assessed valuation (EAV) of Dresden Nuclear Station. The county assessed it at $519 million. State law allows only generating stations and car manufacturers to negotiate their EAV, county assessor Dave Henderson said.
As part of a settlement reached, the parties entered into an agreement that will prevent any challenges for the next five years. Under the settlement agreement, the county and the rest of the taxing bodies involved will receive about $21 million a year for each of five years, totaling $105 million paid in taxes. Further, in the five years, the EAV will increase each year. For 2007 Dresden will be assessed at $475 million and by 2011 it will be at $495 million. It was announced that Exelon is receiving some credit from the all of the taxing bodies, including the county. [CHICAGO SUN TIMES: PROPERTY TAX]
Published on Dec-20-07
As part of a settlement reached, the parties entered into an agreement that will prevent any challenges for the next five years. Under the settlement agreement, the county and the rest of the taxing bodies involved will receive about $21 million a year for each of five years, totaling $105 million paid in taxes. Further, in the five years, the EAV will increase each year. For 2007 Dresden will be assessed at $475 million and by 2011 it will be at $495 million. It was announced that Exelon is receiving some credit from the all of the taxing bodies, including the county. [
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