Noticed last week that Exelon and the District agreed on $800K per year tax payment for now.  Also saw this mornign taxes proposed to go up .99 mills again.  Any idea whether the Exelon money is included in the budget, and if not, why not?

Also - noticed that Suburban School District (one of the highest rated districts in the state) will be about dead even with SE if the millage is increase.  Funny, we don;t seem to be so highly regarded.  Needed to vent a little!!

I heard a while back that Exelon just decided to ‘not’ pay their taxes because they weren’t happy with the rate.  Don’t know how much truth/embellishment there was to that.  Anyone know?

The dispute was over the amount that the district was valuing the property at. YDR had an article indicating that an agreement had been reached - they have some back money to pay, as well as going forward.  I just want to know whether they are have included that figure in the budget.

From what I read Excelon claims the value of thier property was $0 so they did not have to pay taxes on it.  Wow! What a terrific scam!  Why didn’t I think of that?  I wonder if I could pull that off with my property taxes?  I guess I need a buch of lawyers - probably not worth it.  Isn’t it nice how large corporations could set the value of their own property?  How special that is!

Ultimately they agreed on a figure of $15M as the valuation of the plant.  They are going to pay $1M a year through 2012.  After that, the tax is about $250k annually.  I did not see any specific line item broken out for that.  I am not entirely sure where it would fall under budgetarily.  If it was for me to decide, I would recommend paying down some of the debt.  Ultimately we are going to need more schools, and it helps to not carry so much debt.

Jason - 30 April 2008 11:11 AM

From what I read Excelon claims the value of thier property was $0 so they did not have to pay taxes on it.  Wow! What a terrific scam!  Why didn’t I think of that?  I wonder if I could pull that off with my property taxes?  I guess I need a buch of lawyers - probably not worth it.  Isn’t it nice how large corporations could set the value of their own property?  How special that is!

In this current market...a lot of our properties are valued at $0!!!

If you think about it, ultimately the value of any piece of property is what you can sell it for.

JustPlainC - 30 April 2008 11:36 AM

Ultimately they agreed on a figure of $15M as the valuation of the plant.  They are going to pay $1M a year through 2012.  After that, the tax is about $250k annually.  I did not see any specific line item broken out for that.  I am not entirely sure where it would fall under budgetarily.  If it was for me to decide, I would recommend paying down some of the debt.  Ultimately we are going to need more schools, and it helps to not carry so much debt.

I am with you JPC.  Pay down the debt!