To:       Raisin Township Board                                                 October 13^th, 2008

From:   Assessing Department

Subj:    Monthly Report 

The only commercial/industrial properties we have left to complete are Wacker, Cyltec and the properties we were denied entrance to when we were there on the first time around. We don’t have a lot of those properties, 7 or 8, and they will be completed by the end of the month. We are going through our records at this time to make sure that none of the commercial/industrial properties we miss as we were pulling the files. We have gotten caught up on all of the new house, remodels, sales, and property transfers. What we have left are things that are in the process of being completed before the end of the year and may carry over to next year. 

As you know, we have a Tax Tribunal case involving Wacker Chemical. I have had several conversations with the Equalization Director and one of his suggestions is that we have an audit done of Wacker personal property by an independent firm and he gave me the name of a company that does this type of work. The reason for a personal property audit is that not having a qualified person to do an audit we accept the value that is placed on an item by the company filing the personal property form, this would make sure that the value is correct. After talking to Mr. Wagner I call Tax Management Associates and have a quote on what it would cost to have this completed. I ask them to give me a cost to do both Wacker and Cyltec but the important one would be Wacker. When I had the conversation with Mr. Martin (Equalization Director) I ask him if we could hire the County to do the personal property and he informed me that they had no one qualified to do such an audit and if this appeal does end up at the Tribunal it would be better if the audit was done by and independent firm. The cost we were quoted was for a 3 year audit and includes going to the Tribunal with us if it goes that far. As you can see by the letter in your packet the cost just for Wacker is $22,700.00, Wacker’s personal property taxable values is a little over $20,000,000. If Wacker appeals to the Court of Appeals when there would be a further charge of $250.00 per hour. 

I would wish that the Board express their desire on this matter because it will take about 6 months for TMA to complete an audit if the Board decides to pursue this action. 

Sincerely 

Dave Powell
Township Assessor