Property Tax Appeal Board Decision 2003-01680-I-3 Olin Corporation

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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds a reduction in the assessment of the
property as established by the Madison County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: See Page 60
IMPR.: See Page 60
TOTAL: See Page 60
Subject only to the State multiplier as applicable.
PTAB/smw/03-01680/12-08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Olin Corporation
DOCKET NO.: 03-01680.001-I-3 through 03-01680.015-I-3 &
04-01191.001-I-3 through 04-01191.014-I-3
PARCEL NO.: See Page 60
The parties of record before the Property Tax Appeal Board are Olin Corporation (Olin), the appellant, by attorneys JoAnn T. Sandifer of Husch & Eppenberger, LLC, St. Louis, Missouri, and Thomas M. Atherton of Bose, McKinney & Evans, LLP, Indianapolis, Indiana; the Madison County Board of Review by Assistant State's Attorneys John McGuire and Philip Alfeld; and the intervening taxing districts, Bethalto Community Unit School Dist. No 8, East Alton Elementary Dist. No. 13, East Alton Public Library, East Alton-Wood River Community High School Dist. No. 14, Madison County, St. Louis Regional Airport Authority, Village of East Alton, Wood River Township, Wood River Township Hospital, Wood River Township Road and Bridge, and Wood River-Hartford School Dist. No. 15, by attorneys David Lincoln Ader, Gregory Mathews and Laura Polistrini of Ancel, Glink, Diamond, Bush, DiCianni & Krafthefer, P.C., Chicago.
The parties stipulated that in 2003 the subject property contained approximately 1,467 acres of ground improved with a manufacturing facility containing approximately 2,540,048 square feet of gross building area. The parties also stipulated that in 2004 the subject property contained approximately 1,463 acres of ground improved with a manufacturing facility containing approximately 2,534,381 square feet of gross building area. The parties further stipulated that in 2003 the subject property contained a total of 189 buildings and in 2004 the subject property contained 191 buildings. The parties stipulated that the subject property was also improved with numerous shed structures that ranged in size from 19 to 1,260 square feet. The parties stipulated there were approximately 314 sheds on the property in 2003 with a total square footage of 119,215 and approximately 308 sheds on the property in 2004 with a total square footage of 117,537.
The subject's manufacturing complex is used to: 1) manufacture brass, copper and copper alloys to be used in the production of electrical, plumbing, automotive and ammunition components; and