Hearing Set for Monday over Wabtec Property Tax Reassessment
A hearing is scheduled for Monday as the Iroquois School District seeks a tax reassessment of the 430-acre former GE Transportation property.
The reassessment is based on Wabtec's purchase price for the plant earlier this year.
The school district, which has suffered from a shrinking tax base, wants the assessed value of Wabtec's property increased from about $24 million to $162 million.
Wabtec will likely argue against the reassessment. Much of the manufacturing property is vacant, and some buildings have been demolished.
The Wabtec property extends into the City of Erie, as well as Harborcreek where the locomotive test track is located. Taxing bodies in those municipalities would also benefit if the reassessment fight succeeds.