BP's Tatics in Cape Vincent Ny

Monday, March 18, 2013

Duke wind farm tax deal means $800K less for Converse County

A tax settlement between the state and a wind company will cost Converse County more than $800,000 in revenue — cuts that will hit library, hospital and school budgets.
After a round of negotiations between the Wyoming Department of Revenue and Duke Energy, owner of the Top of the World wind farm north of Glenrock, the state has agreed to value the property at $296.9 million, far less than its original valuation of $414.7 million.[Trib.com]

1 comment:

Anonymous said...

How about this from the link:

"The appraisal was also adjusted after state officials learned the company carried a non-transferable federal grant on the project. Because the grant could only be used by Duke, the project’s resale value would take a hit."

This non-transferable grant, is this the Production Tax Credit? If so, then it says if we get screwed by the State and have BP's project crammed down our pie-hole then we'll also get screwed when our assessor tries to value the project on the basis of the build-out cost.

I can just see the smiles on the faces of the wind project sponsors on this one - same smile as the guy had in 'There Will Be Blood.'