An Illinois producer of precision metal parts purchased fifteen acres of farmland using four acres to build a manufacturing plant. The rest of the land was worked as farmland under an unwritten lease agreement. The county assessor’s office classified the property as part industrial and part vacant land. We had the eleven acres reclassified as farmland, reducing the assessment ratio from 22% to 16%. Because the State Equalization Factor does not apply to farmland, the amount of taxes due was further reduced. We then obtained a Class 6-B exemption for the new construction, reducing the assessment ratio from 36% to 16%. Finally, we filed Certificates of Error to correct prior year assessments and generate tax refunds. Bottom Line: The company has realized total project savings of $560,000 over a two-year period.