As Legislators Debate Property Tax Exemption, State Chamber Says Wind Incentives Work
One incentive in the crosshairs is a five-year exemption on local property taxes installed in 1985, which is reimbursed by the state to schools, counties and CareerTech centers, The Oklahoman‘s Paul Monies reports:
The state paid $64 million in reimbursements in 2013, with half of the exemptions claimed by wind farms. Total reimbursements rose 39 percent from $46 million in 2012, according to the Oklahoma Tax Commission.
On Monday, The State Chamber released a study supporting the exemption, which is available to large manufacturers, data centers and wind developers:
The study, by economic consulting firm RegionTrack Inc., said the incentive is especially beneficial to rural communities. For every dollar expended, the firm estimated $225 came in new economic output.