These businesses want the largest declines in property assessments in Winnebago and Boone counties - Blogs - Rockford Register Star

 

Boone County
1. Northwest Bank of Rockford wants to lower the value of 65 lots in Deer Hills subdivision in Belvidere from $3.3 million to $520,000.
2. Inland American/Belvidere Atlas LLC, which was set up by the massive Inland American real estate investment trust, wants to lower its Americold Logistics warehouse at 6765 Imron Drive, Belvidere, from $10.4 million to $8.6 million.
3. The Green Giant Co. wants its General Mills plant's value decreased from $5.3 million to $3.7 million.
This is a major issue for everyone in the Rock River Valley. The way the tax system is set up if these large property owners are granted these decreases it will RAISE the taxes on the surrounding property owners.
Taxing bodies set their levies — or how much money they want from property owners. The assessment creates the pie. When one property owner lowers his portion of the pie through a property assessment appeal the portion of the pie increases for the other property owners who pay to those taxing bodies

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