Taxing Bodies Start Voting on Property Tax Deal with Exelon

Sep 21, 2017

Exelon has negotiated how much it will pay in property taxes over the next seven years for its Cordova nuclear plant. The Black Hawk College District is one of eleven taxing bodes that receives revenue from the taxes paid by the Quad Cities Generating Station. And tonight, the college board of trustees is set to vote on the property tax agreement with Exelon.

Brad Cox, Supt. of the Erie School District
Credit submitted / Erie School District

Erie School Superintendent, Brad Cox, says under the proposal, the company would pay an average of $12.5 million a year from 2017 through 2023. Last year, Exelon paid $8.1 million.

He says the company is a "positive partner" with Erie Schools, and their approach is to build relationships and have open dialog even when discussing property taxes.

The property tax agreement won't go into effect unless all the taxing bodies approve it. And the Erie Board of Education is scheduled to vote on the deal next week.