From the Kokomo Tribune:
Tipton County property owners in two townships are likely to see a drop in their property tax bills, due to the proposed Prairie Breeze Wind Farm, but the impact on Tri-Central schools is far less certain, according to records released by the county Wednesday.
Projections calculated by Carmel-based consultants H.J. Umbaugh show property tax rates could fall by about 16 percent by 2026 in Prairie and Liberty townships, if the Prairie Breeze developers install the largest of the three turbine systems they’ve discussed.
That impact translates into annual savings of about $99 for the owner of a home valued at $113,500, according to the report.
The project application, filed in advance of a key Feb. 25 meeting of the Tipton County Board of Zoning Appeals, indicates developer juwi Wind Energy will try to build a 150 megawatt wind farm, with 77 turbines in Prairie Township and 17 turbines in Liberty Township.
That size of wind farm would add millions to the county’s tax base, effectively relieving some of the burden on other taxpayers.
Apart from specific cash payments to the county, however, the wind farm wouldn’t increase the amount of operating revenue for either the county or Tri-Central schools.
State restrictions on the growth of tax levies would continue to limit the amount of revenue the county could bring in each year.
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The financial impact of the project would extend beyond tax payments, however.
The developers are expected to pay up to $1.78 million in economic development payments to the county, along with another $1 million to $3.6 million for road repairs and improvements.
Landowner payments are estimated at up to $36 million over the duration of a 30-year lease, and juwi estimates between $3.7 million and $8.9 million in wages paid on the project.
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See the full article here:
http://kokomotribune.com/local/x1976828354/Adviser-Taxes-would-fall-with-turbines
