By Stephen Nelson
At the Tuesday, August 13, Kankakee County Board meeting, Chairman Andy Wheeler provided an update on the tax abatement agreement between local taxing bodies and Gotion, the China-owned company building an EV battery manufacturing plant in the former K-Mart distribution center in Manteno.
Wheeler said 2023 taxes due on the empty building were about $919,000 and headed down, because it was not being used. Wheeler said the taxes payable on the property will more than double in 2025 at $2.4 million. Wheeler said that means $1,081,000 in additional tax revenue per year for the various taxing bodies included in the agreement, which runs until 2054. As part of the tax abatement agreement, Gotion can’t appeal its annual tax assessment.