D304 Fighting Walgreens’ Effort To Reduce Geneva Property Taxes

GENEVA, IL — Geneva District 304 is set to take on Walgreens after its school board voted to fight the corporation’s attempts to reduce the assessment value, and therefore its property taxes, at a store in the city.

The board approved a resolution last week to argue against Walgreens’ petition to the Illinois Property Tax Appeal Board, in which the corporation seeks to cut the assessed value of its store at 2100 W. State St. by nearly 50 percent, according to a report by the Kane County Chronicle.

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The property was valued at $773,000 in 2019, but Walgreens wants to slash that value to about $417,000, the report states.

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If Walgreens’ petition is granted, District 304 tax revenue from the West State Street store would be cut from $46,000 to $21,000. District 304 would have to refund Walgreens about $25,000, district officials told the Chronicle.

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However, the Illinois Property Tax Appeal Board could rule the 2019 property assessment was too low and force Walgreens to pay additional taxes on the property, the report states.

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