Property Tax Reduction
Wind Turbine Electric Generation
The taxable value of a centrally assessed wind turbine electric generation unit with a nameplate generation capacity of 100 kilowatts or more on which construction is completed before January 1, 2011, is calculated at 3% of assessed value instead of 10% (which applies to other property). A centrally assessed wind turbine electric generation unit is a unit that produces electric power for public use.
The taxable value of a centrally assessed wind turbine electric generation unit with a nameplate generation capacity of 100 kilowatts or more, for which a purchased power agreement has been executed after April 30, 2005, and before January 1, 2006, and construction is completed after April 30, 2005, and before July 1, 2006, must be calculated at 1½% of assessed value. The reduced valuation applies for that property for the duration of the initial purchased power agreement for that generation unit.
A centrally assessed wind turbine electric generation unit with a nameplate generation capacity of 100 kilowatts or more, on which construction is completed after June 30, 2006, and before January 1, 2011, must be valued at 1½% of assessed value to determine taxable valuation of the property.
