At this week’s Greenville City Council meeting City Manager Dave Willey told the council that a letter had been received from Bond County State’s Attorney Chris Bauer saying the insurance claim filed by the county to recoup the tax revenue lost by an assessment error was denied.
The county’s errors and omissions insurance carrier is Illinois Counties Risk Management Trust.
Mayor Alan Gaffner said, “It looks like an insurance company is looking to get out of paying a claim and I’m not very happy about that.”
Councilman Mike Heath asked what kind of appeals process there might be in place or what plans the county may have to continue the claims process. Willey said he did not know, but didn’t think the issue was done.
The assessment error cost a reported $524,352 in lost property tax revenue to 13 governing bodies in Bond County.
During the same meeting the Greenville City Council decided to raise next year’s tax levy by 5% or less, which will mean a truth in taxation hearing will not be held. Willey told the council he believed a larger raise in the levy should not be necessary, but if the city wanted to recoup all of the lost funds the levy would need to be raised by 12%.