Yorkville Discusses Tax Benefits of Proposed CyrusOne Data Center with Plano School District
Yorkville City Administrator Bart Olson met with the Plano School District 88 Board to discuss the potential tax benefits of the proposed CyrusOne data center, which is expected to generate up to $68 million annually in tax revenue. This could result in approximately $44 million for the school district, significantly exceeding its current total property taxes of $26 million. Olson noted that while the valuation may differ from the Meta data center, the CyrusOne facility could surpass the value of any existing business in Yorkville.
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Yorkville City Administrator Bart Olson met with the Plano School District 88 Board to discuss tax benefits from the proposed CyrusOne data center. The facility, approved for construction in Yorkville, falls within the boundaries of Plano School District.
Based on estimates from the Meta data center in DeKalb, Olson indicated that the CyrusOne center could generate a substantial tax bill, which could reach $68 million annually without property tax abatements, translating to approximately $44 million for the school district. This amount exceeds the district's current total property taxes of $26 million. While the valuation of the CyrusOne facility may differ from the Meta center due to its traditional business design versus Meta's campus-style setup, Olson believes it could surpass the value of any existing business in Yorkville.
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