nuclear-news

Lawmakers want Entergy to pay its fair share of tax

Westchester OKs Indian Point tax deal http://www.lohud.com/story/news/local/westchester/2016/04/05/westchester-oks-indian-point-tax-deal/82635322/  Mark Lungariello, mlungariel@lohud.com

Entergy agrees to pay almost $4 million for 2015, but some lawmakers wanted a more equitable deal running through 2024.
The owners of Indian Point Energy Center will pay Westchester County more per year in a new tax deal approved Monday, although some lawmakers questioned if the company is really paying its fair share under the agreement.

The county Board of Legislators approved in a 12-4 vote a new payment in lieu of taxes, or PILOT, for the two active nuclear reactors and an adjacent building at Indian Point in Buchanan. The land is property-tax exempt and the plant’s owner, Entergy, instead pays a set fee negotiated with the municipality.

The new deal runs through 2024, with Entergy’s payment increasing annually by the lesser amount of the New York state tax cap or 2 percent. Under the deal, the company agreed to pay almost $4 million to Westchester backdated for 2015 after paying $3.1 million in the final year of its last PILOT.
Legislator Catherine Parker, a Rye Democrat, voted against the PILOT after a public hearing during which no members of the public spoke.

“We want to make sure that we have an equitable situation for the taxpayer and for the entity,” she said.

Legislature Chairman Michael Kaplowitz, a Somers Democrat who also voted against the measure, had sought to renegotiate the terms so that the PILOT was tied more directly to the county’s annual tax increase or decrease.

The expired PILOT, he said, was agreed to during an uncertain time for nuclear facilities. Under that agreement, Indian Point’s owner paid $3.4 million in 2003 but that payment decreased to a low of $2.6 million in 2007 before bouncing back up.

Entergy bought Unit 2 from Con Edison and Unit 3 from NYPA. Unit 1 is no longer in use. The company has separate PILOTs already approved by the town of Cortlandt, the village of Buchanan and the Hendrick Hudson school district.

April 6, 2016 - Posted by Christina Macpherson | politics, USA