For seven years, the Byron Stations' assessments were frozen at $472 million. That agreement expired in 2004 and in October, Ogle County Supervisor of Assessments, Jim Harrison reassessed the plant at $390 million.
But Exelon and seven of the taxing districts appealed the decision and today they were stating their cases. Attorney Stuart Whitt is representing the taxing bodies that draw real estate taxes from the plant, the biggest is the Byron School District, 84% of it's budget dollars come from the plant.
The seven taxing districts say the plant should be assessed at $502 million but Exelon's appraiser has assessed the plant at $280 million with a plant value of around $1.75 billion.
During testimony today, attorney Whitt found mathematical errors in Exelon's appraisal. He also challenged the energy prices that were used in the computations, saying they were lower than current energy costs.
Exelon's attorney, Terry Moritz says the taxing districts' appraiser used limited information to draw his conclusion.
The Ogle county review board decided Thursday night to assess the exelon power plant at $366,400,000. This new assessment means Byron schools will receive almost $2 million dollars less than district leaders believe they deserve. Attorney Whitt says they will likely appeal to a state tax board.