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Wind Turbines

Wind Turbines

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Wind Turbines

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Presentation Transcript

  1. Wind Turbines Matt Boeck Story County GIS Coordinator

  2. Assessment • County Ordinance • Approved by County Supervisors • Amount of Valuation • For the first assessment year, at 0% of net acquisition cost • For the second through sixth assessment years, at a percent of the net acquisition cost which rate increases by 5% each assessment year • For the seventh and succeeding assessment years, at 30% of the net acquisition cost • Acquisition cost for Story County Wind Farm • All turbines have to be in at least initial phases of construction

  3. Story County Wind Farm • Story Wind LLC • NextERA company (Florida Power and Light) • 100 Turbines Constructed in Fall of 2008 • 100 Turbines on Assessment year 2009 • Story County will see first tax dollars September 2011 • 23 more turbines on assessment year 2010 • Treated as Buildings on Leased Land • Two or more turbines on same rural parcel can have same parcel number • Class is Industrial

  4. Estimated Assessments and Taxes

  5. Wind Turbines and TIF • Tax Increment Financing • Financing mechanism, most commonly used by cities, to reallocate growth in property tax revenue within a designated Urban Renewal Area (URA) to finance public improvement projects or attract new development • URA can be entire county • County road improvements

  6. Wind Turbines in GIS

  7. Questions?Discussion?