Boone County keeping close eye on Kraft Heinz property value appeal

2 months 2 weeks 2 days ago Wednesday, September 27 2017 Sep 27, 2017 Wednesday, September 27, 2017 3:39:00 PM CDT September 27, 2017 in News
By: Kevin Levine, KOMU 8 Reporter
loading

COLUMBIA - The Kraft Heinz manufacturing plant is appealing the value of its property.

But instead of shooting for a higher number, officials are going in the opposite direction.

Kraft Heinz is hoping for a lower number, about $1.7 million, to have lower property taxes.

The appeal could have a major effect on Boone County tax entities, such as the Columbia School Board and Boone County Library system. Boone County Collector of Revenue Brian McCollum said when a taxpayer pays its taxes while under an ongoing appeal, those funds go into a holding account that cannot be distributed to tax entities. 

"Once that payment is made to my office, we set those funds aside in an impound account. Those funds do not get distributed out to the taxing entities at that time," McCollum said. "Once that payment comes in we would put it into a holding account."

Last year the Kraft Heinz company paid a little more than $200,000 in taxes to Boone County. Of that, $160,000 goes to the Columbia School Board, $10,000 to the City of Columbia, and $8,000 to the Boone County Library system. If the appeal is not resolved before the end of 2017, the taxes normally distributed to these entities would be put in a hold, unable to be touched. 

"Until a resolution or an order is handed down by the state taxing commission regarding that appeal, that is when we would distribute any funds either to the taxing entities," McCollum said. "Or if the taxing commission decides the value of the property should be lowered we would issue a refund back to Kraft Heinz. That could take weeks, that could take months, that could take up to a year." 

The county assessed the company's real estate value at $2.7 million, with an open market value of $8.3 million. Kraft Heinz proposed it believes the property should be assessed at $960,000 with an open market value of $3 million.

Kraft Heinz currently receives a 75 percent property tax break on $93 million worth of equipment for seven years, which the company said at the time the tax break was approved would save it more than $5.2 million. 

More News

Grid
List
OLATHE, Kan (AP) — A third man has been convicted in the killing of a suburban Kansas City gun... More >>
35 minutes ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 8:46:29 AM CST December 14, 2017 in News
JEFFERSON CITY - The Missouri Department of Health and Senior Services said it concluded a three-month long investigation into a... More >>
1 hour ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:54:30 AM CST December 14, 2017 in News
JEFFERSON CITY - Mid-Missouri could be gaining its second, fully-accredited Montessori school. Tonight Woodland Montessori will put forward its... More >>
2 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:53:00 AM CST December 14, 2017 in News
UPDATE: The Missouri State Highway Patrol has confirmed they have arrested 36-year-old Audrey Griffith in Audrain County in connection with... More >>
2 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:49:00 AM CST December 14, 2017 in News
COLUMBIA - On Wednesday evening, Columbia Police Officers were dispatched to the 2300 block of Carpenter Drive in reference to... More >>
3 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:20:46 AM CST December 14, 2017 in News
COLUMBIA - Columbia Police Officers responded to the 1500 block of Vandiver Drive in reference to a reported home invasion... More >>
3 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 5:28:42 AM CST December 14, 2017 in News
Update: Columbia Police Officers have made an arrest in regards to Wednesday morning's incident in the 1500 block of Fir... More >>
4 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:50:00 AM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The director of the Missouri Veterans Commission has resigned amid complaints about care at the St.... More >>
10 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 10:37:00 PM CST December 13, 2017 in News
SALINE COUNTY - Former Columbia Police officer Rob Sanders will head back to the courtroom in May 2018 as he... More >>
11 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 10:03:00 PM CST December 13, 2017 in News
The St. Louis Cardinals have acquired outfielder Marcell Ozuna from the Miami Marlins. The deal is pending a physical. ... More >>
11 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 9:41:00 PM CST December 13, 2017 in Sports
COLUMBIA - Today the Federal Communications Commission will vote on a plan to repeal net neutrality and librarians worry this... More >>
12 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:44:00 PM CST December 13, 2017 in Continuous News
AUDRAIN COUNTY - The man who was found on Audrain Road 913 Tuesday next to a crashed car died of... More >>
12 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:32:00 PM CST December 13, 2017 in News
MOBERLY - Missouri law enforcement is impeded by a number of issues in cases involving child sexual abuse. Alleged... More >>
13 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:20:00 PM CST December 13, 2017 in Target 8
COLUMBIA - The Columbia Chamber of Commerce hosted the ninth and final public hearing by the 21st Century Missouri Transportation... More >>
14 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 7:12:00 PM CST December 13, 2017 in News
COLUMBIA - The Federal Communications Commission vote to repeal net neutrality is fast approaching. The vote to remove regulations that... More >>
14 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 7:12:00 PM CST December 13, 2017 in News
JEFFERSON CITY - The Justice Reinvestment Task Force took a big step Wednesday when it comes to addressing mental health,... More >>
14 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:53:00 PM CST December 13, 2017 in News
COLUMBIA - As Columbia Regional Airport plans to expand, it got a push from Mayor Brian Treece. Treece called... More >>
14 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:37:00 PM CST December 13, 2017 in News
COLUMBIA - Missouri is among the worst states nationwide at preventing its young people from smoking and using tobacco, according... More >>
15 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:15:00 PM CST December 13, 2017 in News
Columbia, MO
Broken Clouds 33°
10am 34°
11am 34°
12pm 35°
1pm 36°

Select a station to view its upcoming schedule:

Coming Up Next

9:00a
Megyn Kelly TODAY
10:00a
Today with Kathie Lee & Hoda
11:00a
Rachael Ray
9:00a
The Steve Wilkos Show
10:00a
Jerry Springer
11:00a
Jerry Springer

Tonight's Schedule

6:30p
Football Night in Indianapolis
7:20p
Thursday Night Football
7:00p
iHeartRadio Jingle Ball 2017
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld