logo
Article

Somerset to talk energy tax breaks

Lockport Union-Sun & Journal|Rachel Fuerschbach |February 21, 2016
IllinoisTaxes & Subsidies

A local law that would allow Somerset to opt-out of a provision in state real property tax law that allows energy projects to be exempt from property taxes will be presented and discussed in a meeting Wednesday.


SOMERSET — A local law that would allow Somerset to opt-out of a provision in state real property tax law that allows energy projects to be exempt from property taxes will be presented and discussed in a meeting Wednesday.

New York State Real Property Tax Law Section 487 says property that contains a wind, solar or farm waste energy project approved by the state is exempt from real property taxes for 15 years. The special meeting will take place at 6:30 p.m. Wednesday at Somerset Town Hall, located at 8700 Haight Road.

The town, in preparation of present and future energy projects, wants to opt-out of the exemption law, so it will be eligible to collect taxes on the property for these projects, Supervisor Dan Engert said.

“We want to …

... more [truncated due to possible copyright]

SOMERSET — A local law that would allow Somerset to opt-out of a provision in state real property tax law that allows energy projects to be exempt from property taxes will be presented and discussed in a meeting Wednesday.

New York State Real Property Tax Law Section 487 says property that contains a wind, solar or farm waste energy project approved by the state is exempt from real property taxes for 15 years. The special meeting will take place at 6:30 p.m. Wednesday at Somerset Town Hall, located at 8700 Haight Road.

The town, in preparation of present and future energy projects, wants to opt-out of the exemption law, so it will be eligible to collect taxes on the property for these projects, Supervisor Dan Engert said.

“We want to position the town in the best position to collect revenues in the town,” Engert said. “Essentially, this opt-out law protects the town by not subjecting it to no revenue, because we are exempt from the real property taxes.”

In introducing the opt-out law to the public, Engert and the board are providing the public with the opportunity to share thoughts and concerns about the proposed change. However, the board stresses that the opt-out is not to just address one project, but all of the projects that may come to the town.

“Our duty is to protect the health, safety and welfare of our residents,” Engert said. “This law will take into consideration any project that comes into the town.”

In addition to the opt-out law, the Town Board will introduce three additional laws for adoption. They include the wind ordinance law, infrastructure law and penalties law.

The proposed wind ordinance law consists of amendments to the Somerset town zoning code regarding commercial and industrial wind energy conversion systems.

The infrastructure law will address any major construction project that is to come into the town with major heavy equipment. The law will require the contractor or developer of the project to take out a bond from insurance carriers to cover any damage that may transpire during construction.

The purpose of the law is to give additional protection for the residents, Engert said.

The penalties law relates to zoning within the town. Being proposed for adoption is a reduction of a misdemeanor fine if the violation is a non-classified violation.


Source:http://www.lockportjournal.co…

Share this post
Follow Us
RSS:XMLAtomJSON
Donate
Donate
Stay Updated

We respect your privacy and never share your contact information. | LEGAL NOTICES

Contact Us

WindAction.org
Lisa Linowes, Executive Director
phone: 603.838.6588

Email contact

General Copyright Statement: Most of the sourced material posted to WindAction.org is posted according to the Fair Use doctrine of copyright law for non-commercial news reporting, education and discussion purposes. Some articles we only show excerpts, and provide links to the original published material. Any article will be removed by request from copyright owner, please send takedown requests to: info@windaction.org

© 2024 INDUSTRIAL WIND ACTION GROUP CORP. ALL RIGHTS RESERVED
WEBSITE GENEROUSLY DONATED BY PARKERHILL TECHNOLOGY CORPORATION