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Solar & Wind Energy Issues

Solar & Wind Energy Issues. Wednesday September 19th 2012 Advanced Seminars Presented by Dave Duty Property Tax Specialist II NCDOR Greensboro, NC. Trigger happy!. Incentives-$$$$$$$$$$$$$$$. 35% tax credit on total costs on income taxes up to $10,500

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Solar & Wind Energy Issues

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  1. Solar & Wind Energy Issues Wednesday September 19th 2012 Advanced Seminars Presented by Dave Duty Property Tax Specialist II NCDOR Greensboro, NC

  2. Trigger happy!

  3. Incentives-$$$$$$$$$$$$$$$ • 35% tax credit on total costs on income taxes up to $10,500 • 80% of value removed on business personal property assets

  4. Statute: 105-275(45) • Eighty percent (80%) of the appraised value of a solar energy electric system. For purposes of this subdivision, the term "solar energy electric system" means all equipment used directly and exclusively for the conversion of solar energy to electricity.

  5. News and ObserverMay 23, 2011

  6. Time to List!!!!!!!!!!!!!!!!!! • Jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj McDowell County • Example

  7. 2012 Listing Form1st Listing 2nd Listing 2012 Listing Form

  8. Statute 105-277(g) (g)        Buildings equipped with a solar energy heating or cooling system, or both, are hereby designated a special class of property under authority of Article V, Sec. 2(2) of the North Carolina Constitution. Such buildings shall be assessed for taxation in accordance with each county's schedules of value for buildings equipped with conventional heating or cooling systems and no additional value shall be assigned for the difference in cost between a solar energy heating or cooling system and a conventional system typically found in the county. As used in this classification, the term "system" includes all controls, tanks, pumps, heat exchangers and other equipment used directly and exclusively for the conversion of solar energy for heating or cooling. The term "system" does not include any land or structural elements of the building such as walls and roofs nor other equipment ordinarily contained in the structure.

  9. Solar: Photovoltaic vs. Thermal

  10. Summary • Why 105-275(45) and 277(g) don’t apply • Not a non-profit company; an LLC • Form AV-12 Application For Business Property Tax Exemption • 2nd Listing Attachment-$17,373 vs. $17,444 • Do a discovery???

  11. AV-12 • Total of $92,124

  12. Additional Comments • Appraisal-NCDOR Cost Index & Depreciation Schedules pages 6 & 27 • NCDOR Memo on Solar Energy Electric Systems • In the example, it appears that cost reported is a comparable cost to installing a conventional heating and air conditioning system-audit? • Other Counties • PTC Appeal out of Randolph County

  13. Stay tuned for the next episode of……. • As The Solar Panel Turns!...

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