If the appeal is successful, the district and other GenevaTownship taxing agencies might have to dish out $41,800 in property tax refunds.
As the value of property in downtown Geneva continues to drop, some property owners are appealing their tax assessments, resulting in fewer dollars for local taxing bodies. That's the case with Geneva on the Dam, which is requesting a $460,000 reduction in its property tax assessment for 2010. On Monday night, School District 304 joined other Geneva Township taxing bodies by passing a resolution authorizing an "intervention: in the 2010 Geneva on the Dam Building Associates’ appeal. According to School District 304's "For the Record" e-mail blast, "the appeal exposes the district and other Geneva Township taxing agencies to approximately $41,800 in property tax refunds." Geneva developer Kent Shodeen filed for the reduction along with …
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Donna Mead
7:58 pm on Thursday, January 17, 2013
I've watched two major TIFF districts, (downtown Palatine & downtown Rolling Meadows) neither have delivered as promised. Some touted public dollar investments in Batavia have fallen flat in what appears to be record time. The costly mistakes are almost laughable, except that they are made with 'other people's money' - your money. These public monies for private profit, TIFF programs, usually to … more ›