The power plant in East Alton has closed. Dynegy Energy closed the coal-fired power plant along the Mississippi River due to its claims of unfair market conditions. The closure means the loss of more than 80 jobs at the plant, and an eventual tax impact for the village of East Alton.
East Alton won’t see a decrease in property tax payments for at least another year. Dynegy will pay its regular 2015 tax bill because property tax payments are made in the following year, but tax revenue will reduce over time as property values decrease. The village stands to lose about $300,000 annually by the year 2019. The Alton School District will also lose about $600,000 in lost revenue from the plant’s closure by the 2018-19 school yea,r because a portion of the plant lies in the district.