Grand Tower Energy Corporation and Jackson County have finally settled the decade long dispute over the valuation of the shuttered power plant at Grand Tower. Under the agreement, as I read it, due to the devaluation of the property, the GTEC receives a refund of $6.5 million in property taxes collected. Unfortunately, under state law, some of the taxing districts will have to make up the amount refunded, meaning that property owners in the Grand Tower area could see property tax increases of 60% to 100% in 2025 and 2026, before the levies return to normal in 2027. That is a lot of money for a poor area like the Grand Tower Township to come up with and could mean even less road and infrastructure repair over the next couple of years.
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