Nov. 17, 2011
Oswego County Legislature to Hold Public Hearing on Nuclear Plants' Tax Status
OSWEGO - The Oswego County Legislature today scheduled a public hearing on a local law that paves the way for a new tax agreement with the Nine Mile Point I and II nuclear power plants. The public hearing will be at 2 p.m. Tuesday, Nov. 29, in the Legislative Chambers of the County Office Building, 46 E. Bridge St., Oswego.
Unlike the expiring 10- year tax agreements, the new tentative agreement:
The proposed tax agreement would also remove the risk to taxpayers and the plants' owner of having to pay for expensive prolonged tax certioraris (tax challenges on the plants) in court, and the expense of an unpredictable result. It would also stabilize local tax rates by insulating taxpayers from wide swings in the plants' assessed values caused by unpredictable energy markets in the current down economy.
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