Dueling over tax dollars

Add comment February 10th, 2009

On Feb. 22, we are planning to run the list of the largest property tax challenges and the final results in Boone, Ogle and Winnebago counites.

This year, because of the poor real estate market and the fact that, because of how property tax assessments are timed, most people in the area saw their home assessments rise, there were an unusually high number of property tax challenges filed in Boone and Winnebago counties.

The list of the property owners seeking more than $100,000 in reduction is more of an annual battle. The Register Star, in my 13 years here, has never published the whole list. This year, Betsy Fritscher has written about Ecolab in Roscoe seeing a nearly $700,000 reduction. That is significant but — here’s a preview — it isn’t near the largest reduction.

Hamilton Sundstrand’s assessed valuation on its 4747 Harrison Ave. plant was reduced from $6.65 million down to $3.63 million. Assessed value is one third of fair market value so basically Hamilton Sundstrand was able to convince the Winnebago County Board of Review that it’s property was worth about $10.9 million instead of $20 million.

That’s several teachers salaries worth of tax dollars that the Rockford School District 205 won’t be receiving this year.