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Coal City School District seeks increased property tax levy amid valuation dispute

Heather Kruszewski Data Manager | Coal City Community Unit School District 1

Each November, the Coal City Community Unit District 1 Board of Education places its tentative property tax levy on file. This levy outlines the amount of property tax revenue needed to cover district expenses for the upcoming year.

For the 2024 tax year, payable in 2025, the school district aims to collect $34.2 million in corporate and special purpose property taxes. This represents a 22.95% increase over last year's actual levy. Including debt service, the total estimated property taxes amount to $37.9 million, marking a 20.1% rise from the previous year's extension of $31.6 million.

The levy is based on the equalized assessed value (EAV) of the district, which was estimated at $1.175 billion by the Grundy County Assessor's Office as of October 30. The rate-setting EAV stands at just over $959 million after accounting for exemptions and approved tax increment financing (TIF), reflecting a 2.96% increase from last year.

Of this $959 million value, $520 million is attributed to Constellation’s Dresden Nuclear Generating Station under an agreement with seven local taxing districts, including the school district.

A public hearing notice about the proposed property tax levy was recently published in a local newspaper as required by Illinois state law.

In preparing for the tentative 2024 levy, Chief School Business Official Jason Smith developed two plans regarding GE-Hitachi Nuclear Energy facility's valuation in Goose Lake Township: one maintaining its current value at $6.13 million and another using an appraisal estimating it at over $200 million. The latter plan was approved by Unit 1 Board of Education on November 6.

“For the last three years, the District has filed tax objections against the $6.13 million valuation," Smith stated, emphasizing that their appraisal suggests a higher value for GE-Hitachi than traditionally assigned by authorities.

Smith explained that if successful with their argument before review boards or appeal bodies like PTAB, this strategy could capture additional industrial tax dollars while lowering rates for other taxpayers: “This levy strategy assumes that...the Board of Review will respond favorably...Our appraisal...is nearly $219 million.”

The GE-Hitachi facility houses significant nuclear waste storage capacity and has been subject to ongoing disputes over its assessed value since first challenged by Coal City Community Unit District back in 2021 when adjustments were made increasing its assessment from initial figures up until now remaining unchanged through subsequent reviews into current estimates used today; appeals continue being pursued through PTAB covering multiple past years' assessments too without clear timelines yet established around resolution prospects ahead either way according to officials involved directly handling matters related hereunder discussed further hereinabove mentioned above already previously noted earlier on during coverage thereof hereinbefore presented accordingly thus far throughout reporting efforts undertaken within context provided therein overall comprehensively altogether inclusively included thereby therein included within scope outlined hereinwithin entirety thereof addressed 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