Progress being made on a settlement involving a property tax appeal from Heritage Woods in Aledo. The assisted living facility had their property assessed at $1.6 million and wanted it lowered to $690,000, but that figure has been challenged by local taxing bodies. Now a $921,000 number is being offered, according to Mercer County Supervisor of Assessments Don St. Germaine.
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The settlement would have to be okayed by Mercer County School Board, Mercer County Board, and Aledo City Council. If none is reached, the matter would proceed to the Illinois Property Tax Appeal Board. A $1.6 million assessment would equate to around $150,000 in revenue for local taxing bodies. A $690,000 assessed value would equal around $65,000 in tax revenues. And a $921,000 assessment would generate $84,000 in taxes.