Holcim is requesting that Mason City officials review the company’s tax assessment for the year.
According to local press reports, Holcim it not happy with how its land along the North Federal is currently valued by Mason City’s assessor. The city figures the main plant site which is nearly 153 acres, is worth around US$6.8m. That means their tax bill this year is slightly more than US$225,000.
Holcim filed a petition to the Mason City Board of Review in May and objected to the assessment. Now it is filing an appeal in district court.
Holcim attorney Douglas Oelschlaeger of Cedar Rapids said the company’s operations in Mason City ceased last year. He said, "It does have a considerable impact on the value of the real estate. The value when the facility is open is quite a bit more than when the operations have ceased." Oelschlaeger asked the Board of Review to reduce the assessed value of the property to around US$1m. That would bring Holcim’s tax bill down to around US$33,000.