02/05/2015

By: Brittany Flaherty Theis

On March 28, 2014, the Circuit Court of Grundy County approved the Dresden Power Station Real Property Tax Assessment Settlement Agreement between Exelon Generation Company, LLC, Grundy County assessing officials, and all of the seven taxing bodies that receive property tax revenue from Dresden Station. The taxing bodies retained Whitt Law due to the firm’s widespread experience in assessment and property tax matters, particularly in the energy industry.

To successfully represent its clients’ interests, Whitt Law maintains a team of appraisers, engineers, and other industry experts throughout the nation with whom they work to ascertain the fair market value of large, complex properties like Dresden Station. The firm and its team closely follow developments in the energy industry in order to knowledgably respond to arguments presented at the hearings.

In tax year 2012, Dresden Station’s assessed valuation was increased by the Grundy County Supervisor of Assessments. Exelon challenged the increase in assessed value by appealing to the Grundy County Board of Review. Whitt Law successfully advocated in support of that assessed valuation and Exelon appealed to the Illinois Property Tax Appeal Board. Exelon also appealed the 2013 assessed value of Dresden Station to the Grundy County Board of Review, where Whitt Law again advocated in support of the increase, and to the Illinois Property Tax Appeal Board.

Pursuant to the Settlement Agreement, Exelon’s appeals to the Property Tax Appeal Board for 2012 and 2013 will be dismissed. The Settlement Agreement further provides through tax year 2017 Dresden Station’s assessed valuation will average $500 million with guaranteed tax payments greater than $24 million annually.

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