Fort Madison, IA – The Lee County Board of Supervisors will not give an East Coast company a break on back property taxes. Connecticut-based Glencore LTD has sold the old Ferro-Sil property in Keokuk to Keokuk Properties LLC. Glencore, though, still owes $250,000 in back taxes and another $150,000 in penalties and interest. Chairman Larry Kruse says the board denied Glencore's request that the penalties and interest be waived because the land is in one of Keokuk's taxing districts, so the money is needed. Glencore says the penalties should have been waived because the company sold the property at a substantial loss and because the move will benefit Lee County's future.
Lee County Rejects Tax Rebate
