Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Solar Revenue topic
No spam. Unsubscribe anytime.
Assessor warns Waldenborough of lower-than-expected solar-exemption reimbursements
Summary
An assessor's presentation showed changes in state valuation guidance for solar farms reduced assessed values on some projects and that expected state reimbursements for solar exemptions likely fell from an estimated $100,000 to about $80,000; the assessor will provide corrected figures at the next meeting.
The Select Board heard an update from an assessor or municipal expert on how state valuation guidance and changes in land values have affected solar-farm valuations and state reimbursements under the solar-exemption program.
The presenter said the state reimburses municipalities for a portion of the revenue lost to new solar exemptions and that reimbursement timing is typically one year behind. He reported an example where a site's assessed value dropped from about $10 million to $6 million after the state narrowed what is included in the field valuation, reducing the town's expected reimbursement. The speaker said the town's expected drop in reimbursement is roughly from $100,000 to about $80,000 and that corrected figures would be presented at the following meeting.
Board members asked whether the figures should prompt reexamination of the tax rate or a revaluation; the presenter said those are tools available to the town and that many factors (legislative changes, assessed values and application timing) affect future tax bills. He offered to answer additional questions at the next meeting when staff provides updated numbers.
Why it matters: reductions in state reimbursements for solar exemptions can change revenue forecasts and the town's budget calculations. The discussion is principally informational and the assessor committed to providing corrected numbers at the next meeting.
