By: Brittany Flaherty Theis

On February 25, 2014, the Circuit Court of LaSalle County approved the LaSalle Power Station Real Property Tax Assessment Settlement Agreement between Exelon Generation Company, LLC, the LaSalle County assessing officials, and all of the eleven taxing bodies that receive property tax revenue from LaSalle Station.  The taxing bodies retained Whitt Law in 2008 due to the firm’s widespread experience in assessment and property tax matters.

In tax year 2008, LaSalle Station’s assessed valuation was $235 million with an annual tax bill of $12.2 million.  In tax year 2009, Whitt Law successfully advocated for an assessment increase to $525 million, resulting in a tax bill of $24.6 million.  In tax years 2010 through 2012, LaSalle Station’s assessed valuation averaged $505.5 million, with resulting tax bills of approximately $24 million each year.  Exelon appealed all four years to the Property Tax Appeal Board, arguing that LaSalle Station’s assessed value should be reduced to $225 to $253 million.

Pursuant to the Settlement Agreement, all of Exelon’s appeals to the Property Tax Appeal Board for tax years 2009 through 2012 will be dismissed with no refunds by the taxing bodies.  The Settlement Agreement further provides that, for tax years 2013 through 2019, LaSalle Station’s assessed valuation will average more than $447 million with guaranteed tax payments ranging from $21 million to $23.6 million each year.  LaSalle Station’s total tax payments over the 7-year period are $153 million.
Stuart Whitt and Josh Whitt represented the taxing bodies in this matter.  For more information on this settlement, or other taxation or assessment matters, please contact either Stuart or Josh at (630) 897-8875.

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