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Supervisors approve first reading of wind energy ordinance
Credit: The Bloomfield Democrat | Aug 28, 2018 | www.bdemo.com ~~
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The Davis County Supervisors approved the first reading of Ordinance No. 27, “Assessment of Wind Energy Conversion Property” during their Monday morning meeting.
Two more readings of the ordinance are scheduled for Sept. 4, and Sept. 10. Those readings must be approved and published before the ordinance officially goes into effect.
The supervisors have been meeting with Nick Schuler of Tradewind Energy for months in preparation for the installation of wind turbines in southwest Davis County. The wind project also extends into Appanoose County and Schuyler County, Mo.
The purpose of the proposed ordinance is to provide for the special valuation of wind energy conversion property pursuant to Iowa Code Section 427B.26.
The term net acquisition cost in this ordinance refers to “the acquired cost of the property including all foundation and installation costs less any excess cost adjustment.”
The term wind energy conversion property means “the entire wind plant including, but not limited to, a wind charger, windmill, wind turbine, tower and electrical equipment, pad mount transformers, power-lines, and substation.”
The ordinance set the amount of the valuation thus:
“Wind energy conversion property, first assessed on or after the effective date of this Ordinance, shall be valued by the Davis County Assessor for property tax purposes, as follows: (a) For the first assessment year, at zero percent (0%) of the net acquisition cost. (b) For the second through sixth assessment years, at a percent of the net acquisition cost with rate increases by five percent (5%) each assessment year. (c) For the seventh and succeeding years, at thirty percent (30%) of the net acquisition cost.”
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