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Governor approves tax changes for wind industry  

Tax breaks to encourage construction of more wind farms in South Dakota have been approved by Gov. Mike Rounds.

The governor has signed a bill that would cut property taxes on wind turbines by basing those taxes on generation capacity instead of construction costs.

A reduction in property taxes for wind farms was passed in 2003, but officials say it’s no longer effective because the cost of the towers has risen substantially.

A wind turbine costs about $2 million, of which 40% is currently subject to property taxes.

The law also will tax a wind farm’s gross receipts to help build power lines and other facilities.

Associated Press

kotatv.com

14 March 2008

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

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