Montgomery County officials announced Monday morning (April 1st) that a settlement has been reached with Coffeyville Resources concerning the property tax appeal filed by the company regarding the nitrogen fertilizer plan for tax year 2008, eleven years ago. Coffeyville Resources will not have to pay the tax refund immediately, but instead pay $7.9 million dollars in taxes over a 10-year period as deferred annual marginal increases.
The refinery will continue to be taxed at an appraised value of $160 million for 2019, increased 1.8 percent annually for the next nine years, and similarly the fertilizer plant will be taxed on $35 million at annual increases of 1.825 percent. County Commissioner Larry McManus says it gives both the county and the company economic certainty and will not negatively impact local units of governments, including the schools. They say they appreciate Coffeyville Resources having a presence in Montgomery County.