Corrections, Clarifications About the Solar Farm Tax Abatement Information

The proposed 7V Solar Farm project in Muldoon will actually generate a lot more in property taxes than reported in the June 2 issue of the Record.

The company building the project, Candela Renewables, is requesting a 75 percent property tax abatement from the County. In the June 2 issue, the Record incorrectly stated that the 2,200 acre property would generate $116,000 without improvements. Tax consultant Evan Horn, who is working on behalf of Candela, told the Record this week that the land under it’s current agricultural values actually generates closer to $620 a year without improvements. He said the $116,000 figure refers to the estimated taxes paid to Fayette County by the project while it is still under construction. The abatement period would not begin until the next year. Based on their proposal to Fayette County the project would generate $1,085,712 over the 10-year abatement period . If the property stays in ag production and the project is not built, it would generate just $6,200 over that same 10-year period. Accordingly, the project will generate far more tax revenue for the county even with the 75 percent abatement than it would under its current use.