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Schools opt out of tax exempt status of wind farms
The Westfield and Ripley school districts, as well as some municipalities such as the town of Portland, have chosen to opt out of the tax exempt status wind energy developers are eligible to receive.
"Wind farms fall under some tax exemption which taxing jurisdictions can reject (opt out of)," Peter Gross of Babcock and Brown explained. "This requires that we get a PILOT (payment in lieu of taxes) agreement with the county, otherwise our assets would be assessed at their full value, resulting in a tax payment that would kill the project economics.
July 21, 2008
by Shirley West
in The Observer
The Westfield and Ripley school districts, as well as some municipalities such as the town of Portland, have chosen to opt out of the tax exempt status wind energy developers are eligible to receive.
"Wind farms fall under some tax exemption which taxing jurisdictions can reject (opt out of)," Peter Gross of Babcock and Brown explained. "This requires that we get a PILOT (payment in lieu of taxes) agreement with the county, otherwise our assets would be assessed at their full value, resulting in a tax payment that would kill the project economics.
"The PILOT agreements provide for lower payments instead of... [continue via Web link]
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Tax Breaks & Subsidies
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New York
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