PAAB issues ruling on ADM property value appeal

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The Archer Daniels Midland Company appealed the value of their Clinton properties and Mayor Mark Vulich says he’s considering the ruling by a state panel as a win for the city. (links to the rulings included)

The issue was heard by the Property Assessment Appeal Board in November.  ADM sought to lower the value of the corn processing plant and polymer plant.

Mayor Mark Vulich said if the company had received what they wanted it would have meant a loss of about 400-thousand dollars in tax revenue each for the city, county and Clinton School District.

The ruling, Vulich said is a victory and will mean a loss of between 19-to-24 thousand dollars in revenue.  He says some of the figures must be recalculated under the ruling to determine the exact impact.

This ruling is for the 2015 tax year and Vulich said A-D-M has filed for every tax year since then and expects they will in the future using the existing laws and rules.  He says it will be an ongoing process.  Vulich that’s their right and “we’ll just have to see how it goes.”

Mayor Mark Vulich discussed this issue and others on the F-Y-I Show

Link: PAAB Ruling

Link: PAAB Ruling