Two Galesburg businesses are seeking reductions in their assessed value that, if approved by the state Property Tax Appeal Board, would lower the school district’s levied income by $235,000.
On Monday, the Galesburg District 205 school board approved resolutions authorizing the district to file requests to intervene in the appeal proceedings for Walmart Supercenter and Fresenius Kidney Care.
“At this point in time, if there is no intervention, the property tax appeals board would hear only their side of it,” said Superintendent John Asplund. “So what we're asking is for a motion to intervene so we can enter evidence with an independent appraiser who would go to Springfield on our behalf to state our case.”
The school board unanimously approved the resolutions.
Galesburg’s Walmart Supercenter, 659 Knox Square Drive, is seeking a 59% reduction in its assessed value for tax year 2025, from $4.43 million to $1.8 million, according to a memo to the board from the district’s attorney.
Asplund said that would reduce the district’s property tax revenue by $212,000.
“So we would like to intervene and stop that,” Asplund said.
In Illinois, property is typically assessed at a third of its fair market value.
For tax year 2024, the Galesburg Walmart paid nearly $425,000 in property taxes based on assessed value.
Over the past decade, property taxes on the Walmart property have increased an average of less than 1% a year, or roughly $3,600 annually.
Fresenius Kidney Care, 725 N. Seminary St., is seeking a 46% reduction in its assessed value, from over $1 million to around $566,000. In 2024, the owners paid over $117,000 in property taxes.
If Fresenius is granted the reduction in assessed value, Asplund said that would reduce the district’s income by $23,000.
The district has tentatively retained an attorney to perform independent appraisals of the properties at a cost of $6,000 for both.
The school district will intervene in the property tax appeals following a loss of property tax income from a previous appeal by the owner of the former Cottage Hospital.
In that appeal, the Property Tax Appeal Board sided with the owner, who asked for reductions in the assessments for some parcels for tax years 2021 and 2022.
So the school district saw $293,966 removed from its 2024 tax receipts and will see $316,865 taken from tax year 2025 revenues.
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