Monday, the Oglesby City Council voted 5-0 to join the Oglesby Elementary and La Salle-Peru Township High School districts in disputing Buzzi’s demand for a steep reassessment.
The three taxing bodies have agreed to hire a law firm with experience in such matters, and to split the legal fees on a pro-rated basis decided by tax rate. Based on last year’s taxing figures, the city’s share of the legal bills would be about 27 percent.
As previously reported, Buzzi seeks to shave its assessment on property in Oglesby by three-quarters, from $2 million to $500,000. If La Salle County approves that, Buzzi’s break would knock $1.5 million off the city’s $33 million tax base, translating to a 4½-percent reduction in the city’s revenue.
City attorney Jim Andreoni said he anticipated having to make some concession to Buzzi, but said Monday the company simply has not furnished sufficient proof, such as a comprehensive appraisal, to justify such a steep cut in taxes.
“There isn’t a lot of supporting documentation that Buzzi’s filed,” Andreoni said. “Is what they’re asking for reasonable or unreasonable? Or is there something in the middle?”
The matter goes before the La Salle County Supervisor of Assessments next week, though Andreoni said there may not be action right away.
More on this story later at www.newstrib.com