The $400 Million Dispute: Why Rivian Thinks Its Normal Properties Are Overvalued and Overtaxed

The $400 million dispute: Why Rivian thinks its Normal properties are overvalued and overtaxed – WGLT (NPR at ISU)

Government assessors think Rivian’s Normal property is worth $527 million. Rivian’s own appraiser argues it’s only worth $115 million. After losing an initial appeal with McLean County’s Board of Review, Rivian is taking its case to the state’s Property Tax Appeals Board. Its property tax bill is $13.8 million.

The $400 million dispute: Why Rivian thinks its Normal properties are overvalued and overtaxed

Documents obtained by WGLT show Rivian trying to make its case for why its Normal properties are significantly overvalued and overtaxed. Millions of tax dollars are at risk for Unit 5 schools and other local taxing bodies.

Rivian Asks Illinois to Cut Its EV Plant Valuation to $115 Million

Rivian has told Illinois regulators that its factory in Normal is worth $115 million, about a fifth of the $527 million the local assessor puts on it, in an appeal that could cost the town's school district millions of dollars a year. The post Rivian Asks Illinois to Cut Its EV Plant Valuation to $115 Million appeared first on EV.