The Village of Mount Pleasant announced on Wednesday that Foxconn is now projected to be the largest taxpayer in the Village, starting in 2019.
Based on work done recently by the Village Assessor, the lands conveyed by the Village to Foxconn in Area I are collectively assessed at $57,565,400 for 2019, representing a year-over-year net increase in value of $49,210,700 over the same parcels in 2018. While the Village budget and related mill rate will not be set until later this year, based on last year’s mill rate, the company would pay approximately $1,152,324 in property taxes for 2019.
“Since the beginning of this project, we have been confident that this development would be an incredible opportunity for our Village,” said Mount Pleasant Village President David DeGroot. “Recent assessments show that the Village is beginning to reap the financial benefits of this opportunity.”
Read more in the Racine Journal Times.