March 14, 2008
South Dakota
South Dakota
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
14 March 2008
URL to article: https://www.wind-watch.org/news/2008/03/14/governor-approves-tax-changes-for-wind-industry/