The idea of PILOT (Payment In Lieu Of Taxes) to me is disgraceful. Their property is worth X amount of dollars, but they do not want to pay what the tax rate dictates, so they bargain with the municipality and come up with a price that suits them and the municipality. Of course, we cannot do that, not that it would matter in my personal case.
But using this original post info as a basis, their assessed value is $13,144,500. If they were in Alton, their tax rate would be $13.44 per thousand, for a tax of $176,662.
Using Bob Bahre, who I believe is Alton's largest taxpayer, property that is in his name only, not with others, not his son Gary's property, and not the commercial property where Hannaford is, that property totals $13,727,800. At the new rate of $13.44 per thousand, Mr. Bahre's tax burden on these properties is about $184,500.
Perhaps our state legislators need to take a better look at the PILOT program. Having an assessed value of over $13 million, and only paying just over $15K per year is just plain wrong.