Monday, December 14, 2015

One Earth Energy Once Again Seeks Reduction in Assessed Value

For the seventh straight year, One Earth Energy in Gibson City is seeking to have its assessed value reduced. Ford County Supervisor of assets Candice Short told the Paxton Record this afternoon that the company has applied to reduce its 2015 assessed value from about $22 million down to around $6 million. It is the sixth time that One Earth Energy has applied for a reduction in its assessed value since it opened its ethanol plant on Gibson City’s west side back in 2009. Since January, a judge appointed by the Illinois Property Tax Appeal Board has been considering a request to reduce One Earth Energy’s property taxes retroactive to 2009. GCMS Superintendent Anthony Galindo told the Record that he estimates the school district will lose out of approximately $500,000 a year in property tax revenue if the request is granted.