11/27/2012 9:05:00 PM Exelon scheduled for Will County tax review
Exelon's Braidwood Station will go before the Will County Supervisor of Assessments Board of Review next week, hoping to reduce the amount that the nuclear power provider will have to pay in property taxes.
The review follows the assessment of the Braidwood Station property in August. That assessment valued Braidwood Station at $470 million, an increase of $20 million over the last assessment five years ago. The county assessor said the increase was due in part to roughly $15 million in new plant construction at the site.
Exelon appealed the assessment in September. Exelon officials said the company has asked for the review in an effort to make sure the property assessment is fair.
The Board of Review will determine the assessed value of the property, based on evidence presented at next week's public hearing. The board will then decide if it wants to change or uphold the assessment.
If the assessment is upheld, Exelon can then appeal to the Property Tax Abatement Board in Springfield.
Exelon's hearing before the county Board of Review is scheduled for Dec. 5 at 10 a.m. in hearing room 3 at the Will County Office Building, 302 N. Chicago Street in Joliet.