Corn Crib taxes – brilliant business plan

By:  Diane Benjamin

Follow up to this story:   https://blnnews.com/2018/10/20/the-corn-crib-fleece/

The property ID # in the County system for the Corn Crib was 14-17-400-004.  You can look this PIN number up on the County Assessor’s site:     http://mcleanil.devnetwedge.com/

Taxes for 2010 were $95,365.40

Taxes for 2011 were $145,019.90

Taxes for 2012 were $32,119.36

Taxes for 2013 were ZERO

Heartland Community College protested the taxes in 2010 on behalf of Normal Professional Baseball.   See what was submitted Here

That form claims construction was completed on May 31, 2010 and cost $8,958,000

This note is included:

Silly argument since the Corn Crib isn’t owned by a tax exempt organization.

This note is also included:

The taxes were protested again in 2011.  See what they submitted Here

Even though the cost to build was considerable more, they claimed the Fair Market Value is only $1,600,002.

This note is included:

The form contradicts itself, now they claim it should be assessed at salvage value!

I wonder what kind of tax deduction the investors are planning if and when it is given to the college?

Taxes were protested again in 2012.  See that filing Here

This time they compared the assessed value to a field in Rockford.

Normal Township has been VERY helpful in figuring this out!

Every time a parcel’s legal description changes the PIN # is changed.  The Corn Crib is now 14-17-400-005

In 2013 the taxes assessed were:  $33,220.74

2014  was $33,424.32

2015 was $33,842.72

2016 was $34,786.86

2017 was $35,169.04

Parcel ID # 14-17-400-004 and 14-17-400-006 were re-divided into -005, -006, and -007.

Both 14-17-400-006 and 14-17-400-007 are exempt.  Heartland owns both.

The only question now is why anybody would spend $8,958,000 to build on land they don’t own and then claim the value is much less.  It is currently assessed with a Fair Market Value of $1,219,338.

Brilliant business plan!

 

 

 

 

 

5 thoughts on “Corn Crib taxes – brilliant business plan

  1. Now that the mid-terms are over let me just set some poop straight. Scammers and crooks make perfect sense to themselves that unfortunately does not coincide with real or common sense that good hard working Americans expect.

    Like

  2. GEEZ! Are they bringing BACK that “new math” that we had to learn as kids?? It was fuzzy then too.
    Maybe Rivian will buy the stadium and name a team when the cars come FLYING off the assembly line there!
    And Koos will become a Republican..

    Like

  3. Zero $ for taxes. Looks to me like that assessed value was based on the level of community interest in the Cornbelters…ZERO! This is like a third-world country where people can walk into the government office and change the records to whatever they want. Unreal.

    Like

  4. Sorta off subject, but a bit of humor. In North Carolina a Minor League is changing their teams name. Not sure of too many details as to why. the new name for the team is now, “The Woodpeckers”. How long do you think it took for some to come up with a new slang nickname? Seconds! Most are now saying ” ‘Let’s go Peckerheads!’:

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s