The Clinton Herald, Clinton, Iowa

Clinton

December 31, 2013

The almost good enough story list of 2013

(Continued)

ADM property tax settlement

The end of a years-long property tax dispute between ADM and area government organizations came to a close.

Archer Daniels Midland will received more than $2.5 million in tax credits as part of a settlement in the property tax dispute with the Clinton Board of Review.

As part of a settlement, ADM will receive $2.1 million in tax credits against future property tax liabilities on the co-generation facility to account for ADM’s overpayments resulting from erroneous assessments on the facility.

The property in question became an issue in 2008 when the property was labeled a utility plant. Several incidents happened after 2008, leading to the settlement in 2013.

The settlement resulted in a loss of projected property tax dollars for Clinton County, the city of Clinton and the Clinton Community School District.

Miller Ridge

The apartment complex on the north end was sold through a sheriff’s sale, had a ceiling collapse forcing the displacement of 20 people and recently had water issues.

During the sheriff’s sale, court documents indicated the complex owed $3.3 million in unpaid mortgages, $353,110 in interest, $180,619 in late charges, $13,500 in attorney fees and $516 for service and filing fees and title searches.

In December, a Wisconsin bank purchased the property for $450,000. The total was a fraction of the $3.3 million that was being sought.

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