The West Virginia Senate Energy Committee recently approved a measure that aims to raise the tax on wind farms throughout the state. Currently, a significant portion of wind turbines and towers are classified as pollution-control facilities and taxed as personal property at salvage value. However, Senate Bill 231 proposes to remove the favorable pollution-control assessment treatment and tax wind turbines, towers, and their attached components as real property. If passed in its current state, the bill is expected to generate an additional $6.1 million in annual property tax revenue.
While the bill aims to generate additional property tax revenue, it has sparked contrasting perspectives among stakeholders such as whether the tax burden would shift from wind project owners to landowners.
The renewable energy experts at Ryan continue to monitor these proposed changes across the country and encourage you to reach out with any questions. In addition, you can view our comprehensive interactive map backed by extensive jurisdictional research, local knowledge, and relationships in the industry, showcasing valuation methodologies used by the assessing authorities across the country.
View Our Comprehensive Interactive Map
TECHNICAL INFORMATION CONTACTS:
Joe Molina
Principal
Ryan
512.960.1081
joe.molina@ryan.com
Jesse Noneman
Principal
Ryan
317.917.3282
jesse.noneman@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.