West Virginia Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 04/19/2013
Program Overview:
| State: |
West Virginia |
| Incentive Type: |
Property Tax Incentive |
| Eligible Renewable/Other Technologies: |
Wind |
| Applicable Sectors: |
Utility |
| Amount: | Property tax basis reduced to approximately 25% of assessed value |
| Start Date: | 7/2001 |
Authority 1:
Date Enacted:
Date Effective:
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W. Va. Code ยง 11-6A-5a
5/2001
7/2001
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Authority 2:
Date Effective:
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Guide for County Assessors
07/01/2011
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Summary:
For the purposes of property tax assessment, utility-owned wind projects are considered to have a value equal to their salvage value, with certain limitations. This incentive effectively lowers the property tax base on utility-owned wind turbines from 100% of fair market value to as little as 24.95% of fair market value.* This results in an effective property tax rate on wind turbines that is 24.95% of the effective tax rate on most other types of newly constructed electricity-generating units.
*The law states that up to 79% of the total property may be assigned salvage value. Salvage value of a pollution control facility, of which a wind turbine is considered for assessment purposes, is 5%. Therefore, if 79% of the property is valued at 5% (salvage value), and the remaining 21% of the property is valued at 100%, the effective value for property tax purposes is 24.95%.
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Contact:
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Jeff Herholdt
West Virginia Division of Energy
Bldg. 6, Room 553
State Capitol Complex
Charleston, WV 25305-0311
Phone: (304) 558-2234
Phone 2: (800) 982-3386
Fax: (304) 558-0362
E-Mail: jherholdt@energywv.org
Web Site: http://www.energywv.org
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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