Solar Development: NCSEA Releases Report on Property Tax Impact
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Collapse ▲This month the North Carolina Sustainable Energy Association (NCSEA) released a report on the property tax impact of utility-scale solar systems (USS) on county property tax revenue. The study of USS installed during the years 2022, 2023, and 2024 found an average $225,574 increase in county real and personal property tax revenue following installation of the USS. Of the counties studied, Nash and Northampton Counties had the highest increases of 3728% and 2498% respectively. Also profiled was that 54 turbine component of the vast Amazon facility located in Perquimmans County, which revealed an 193% increase in revenue.
The study used Geographic Information System (GIS) data from 78 counties to locate USS with 1MW or greater nameplate capacity, then researchers examined the tax records for those parcels, many of which were previously enrolled in county present use value programs where taxes are based on a use-value appraisal for agriculture or forestry use. Removal from the present use value (PUV) program allowed for collection of the three-year deferred taxes, known as the ‘roll back’. (Note: the report does not specify the number of parcels removed from PUV, which would be a good indicator on conversion of farm and forest use land for USS.)
Source: NCSEA
(Note that the report does not mention any loss in sales tax revenue off-setting the gain property tax revenue. Such losses may be insignificant given the sales tax exemptions for purchases of farm and forest production inputs, and on products sold by their producer.)
Here again is a link to the study.
(cover image source: NCSEA)