MINOOKA — The Minooka Grade School board Wednesday night, April 24, recognized Aux Sable Liquid Products for their part in coming to a mutual agreement on property taxes.
District 201 Board President Jim Satorius presented Aux Sable President and CEO Bill McAdam with a plaque acknowledging the company’s efforts to work with the school districts to stabilize the tax base.
“We really appreciate your efforts with our school district,” Satorius said.
Minooka Grade School District 201, Minooka High School District 111 and the village of Channahon were key players in coming to an agreement on the assessed valuation of the industry’s property, which determines the amount of taxes the company pays.
Aux Sable Liquid Products pays taxes to 10 different taxing districts.
An agreement was reached near the end of 2012, clarifying the definition of new property and defining how it will be assessed.
The agreement also holds the EAV of the plant steady for a period of 10 years.
Superintendent Al Gegenheimer said the district wanted to recognize Aux Sable Liquid Products as a business partner and one of the largest property tax payers in the school district.
“They are very active in our schools and we recognize their efforts,” Gegenheimer said. “We have settled a long-term agreement with them, and we are very happy. It’s very equitable to our community.”
McAdam gave a brief history of the local plant, saying the company was specifically named for the area – Aux Sable Township.
“Having a good relationship with local taxing authorities is important,” said McAdam. “We’ve had some contemptuous moments. When you pay $5 million a year in taxes, that’s not small.”
McAdam said the company is looking forward to playing a role in the future of the district’s children, as an education partner and future employer, now that the agreement is out of the way.
“It clears the way for the future,” McAdam said. “We look forward to that.”