CLINTON —
A trial date has been set in the ongoing property tax dispute between Archer Daniels Midland and the city of Clinton Board of Review over the company’s co-generation facility.
A trial will be held at 9 a.m. June 10 to determine a tax evaluation that could result in the loss of millions of dollars in property value being taken off the tax rolls.
The property in question was labeled a utility plant in 2008 and was thus exempt from property taxes in 2009.
However, City Assessor John Moreland and other city officials protested the tax-exempt designation.
In 2010, legislation was passed saying that a co-generation plant would be locally assessed. Moreland conducted that assesment, determining the facility’s value at $78 million.
In 2011, ADM lobbied for new legislation that would relieve them of their property tax obligation. They were successful, and that ruling applied retroactively to the previous year.
On Sept. 30, 2011, a partial property tax settlement was reached, lowering the stipulated value of the cogeneration facility from $77 million to about $32 million.
A pre-trial conference will be held at 9 a.m. May 9.
Clinton
June 10 trial date set between city, ADM
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