Tax revenue from Record Hill
To the Editor:
Recently, a question asked at a Roxbury select board meeting concerned expected tax revenue from the Record Hill wind project.
This project was approved by the Maine Department of Environmental Protection. Within the permit, the developers states at least $700,000 per year would be allocated to the town, using current town budget numbers. The mil rate would drop from nearly $20 per thousand dollar evaluation to about $6 per thousand dollar evaluation.
Obviously, negotiations of tax assessment for this project has yet to take place, which explains why the select board had no idea of how much expected revenue would come in. Not even a mention of the $700,000-plus from the developer, a critical component of the DEP approval.
In examining the model of taxation used by the developer in the DEP permit, although accepted by the DEP, the town has other options, which could draw as much as $2.4 million per year from the Record Hill Project.
The assessed value of this project will be determined April 1, 2012 and will enter the town property tax rolls. Budget amounts for the town will take place in March 2012.
The citizens of Roxbury have unique opportunity to implement a method of increasing revenue from $700,000 to 2.4 million dollars per year, or they could pass it up and let the negotiations take place solely between the select board and the developer.