Article

Senate unanimous in forwarding bill on wind farm property taxes

The Illinois Senate today approved legislation to set up a uniform way of determining the property taxes that wind farms will pay. Wind farms, a fledgling industry in Illinois, at present can be assessed in varying ways, depending on where they are located. Different counties have been using differing methodologies. But if the legislation becomes law, a wind farm installed in 2007 would pay a tax of $9,000 per megawatt, no matter where in Illinois it is. That figure would drop slightly each year because of physical depreciation. The legislation, which is designated House Bill 664, sailed through the Senate on a 53-0 vote and next moves to the House of Representatives. To become law, it must pass there and be signed by Gov. Rod Blagojevich. Another part of the bill would phase out an existing 7 percent cap on property assessments in Cook County.

The Illinois Senate today approved legislation to set up a uniform way of determining the property taxes that wind farms will pay.

Wind farms, a fledgling industry in Illinois, at present can be assessed in varying ways, depending on where they are located. Different counties have been using differing methodologies.

But if the legislation becomes law, a wind farm installed in 2007 would pay a tax of $9,000 per megawatt, no matter where in Illinois it is. That figure would drop slightly each year because of physical depreciation.

The legislation, which is designated House Bill 664, sailed through the Senate on a 53-0 vote and next moves to the House of Representatives. To become law, it must pass there and be signed by Gov. Rod Blagojevich.

Another part of the bill would phase out an existing 7 percent cap on property assessments in Cook County.


The Illinois Senate today approved legislation to set up a uniform way of determining the property taxes that wind farms will pay.

Wind farms, a fledgling industry in Illinois, at present can be assessed in varying ways, depending on where they are located. Different counties have been using differing methodologies.

But if the legislation becomes law, a wind farm installed in 2007 would pay a tax of $9,000 per megawatt, no matter where in Illinois it is. That figure would drop slightly each year because of physical depreciation.

The legislation, which is designated House Bill 664, sailed through the Senate on a 53-0 vote and next moves to the House of Representatives. To become law, it must pass there and be signed by Gov. Rod Blagojevich.

Another part of the bill would phase out an existing 7 percent cap on property assessments in Cook County.



Source: http://www.pjstar.com/php/i...

AUG 9 2007
http://www.windaction.org/posts/10551-senate-unanimous-in-forwarding-bill-on-wind-farm-property-taxes
back to top