CLINTON — A property valuation appeal on behalf of Archer Daniels Midland against the City of Clinton Board of Review from the tax year 2015 has been settled.

Though it appears the city of Clinton will lose anywhere between $18,000 and $24,000 of property tax revenue from the company for that year, the damage is relatively small compared to early estimates of revenue loss if ADM would have received its full potential compensation.

The appeal came before the Iowa Property Assessment Appeals Board in late 2016, with ADM contending that two of its Clinton-site structures had been overvalued by the city of Clinton.

The site’s polymer plant, 410 18th Ave. South, was given a net property value in 2015 of $24,091,862. ADM officials took issue with the assessment, contending based on internal expert opinions that the assessment should be marked down to $8,720,000.

However, after readjustment of some industrial urban revitalization rebate money, the PAAB ruled the structure’s 2015 net value to be $26,914,000, according to the board’s Official Finding of Fact, Conclusions of Law, and Order.

The ruling actually added $22,859.32 in property taxes to the city’s General Fund.

The city wasn’t so lucky when it came to the site’s corn plant, 1251 Beaver Channel Parkway. Officially assessed in 2015 at $52,240,302, the PAAB has ruled the new net value to be $47,128,144. Staff reports from the city of Clinton’s finance department show that the ruling will set the city back $41,408.48 in property taxes.

That loss, paired with the net increase from the polymer plant ruling, gives the city a current total property tax reduction of $18,549.16. That number could change slightly however, as some finalized numbers emerge, Clinton Mayor Mark Vulich said in an interview with KROS Radio.

In the interview, Vulich called the ruling “actually a win” for the city, seeing as ADM could have potentially taken back more than $400,000 in property taxes had the company gotten its full asking.

Vulich was unavailable for immediate comment.

A post-hearing brief submitted by Clinton City Attorney Pat O’ Connell, who provided legal counsel for the city during the lengthy hearing and succeeding events, states that “ADM... failed to present competent evidence sufficient to carry its burden of proof necessary to overturn the assessments of the Clinton City Assessor and the Clinton City Board of Review.”