” Officials in the town of Clay learned a costly lesson during their initial go-round with solar power developers. They failed to seek payment-in-lieu-of-tax agreements with two large solar farms, forfeiting thousands of dollars in annual revenue. Since then, other towns have extracted serious money from solar farms on behalf of taxpayers. In the … [Read more…]
“The Southold Town Board took a formal stand last Tuesday against proposed changes to the state’s Real Property Tax Law that would drastically change how property is assessed for renewable energy facilities. “It’s really going to take [assessment] out of the hands of the towns and the main concern is that it’s going to … [Read more…]
“The Section 1603 program was created as part of the American Recovery and Reinvestment Tax Act of 2009 to increase investment in domestic clean energy production. Under Section 1603 the Department of the Treasury made payments in lieu of investment tax credits to eligible applicants for specified energy property used in a trade or … [Read more…]