The Ogle County Board of Review ruled yesterday that the Exelon Nuclear power plant in Byron is valued at 499.2 million dollars. This is the same figure established by county assessors for the facility.
Company officials believe that the plant has gone down in value with the assessment figure at 284.4 million dollars.
12 area taxing districts receive property taxes from the nuclear power plant. The taxing bodies and Exelon had a 4-year deal that expired last year with the value of the plant at 499 million dollars.
Exelon is expected to appeal yesterday's decision to the state property tax appeal board. The process may take 2 to 3 years to complete.
The value of the plant in Byron has been debated for years between Exelon and the taxing bodies.