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Energy Equipment And Facility Property Tax Valuation

Concerning the valuation of property related to renewable energy for purposes of the property tax.
2021 Regular Session
Fiscal Policy & Taxes
Bill Summary

The act ensures that clean energy resources and energy storage systems used to store electricity are assessed for valuation for the purpose of property taxation in a similar manner to renewable energy facility property used to generate and deliver electricity. The act also modifies the income approach for certain renewable energy facilities by extending the"tax factor" from a 20-year period to a 30-year period. It also specifies that after the 20- or 30-year period, as applicable, a tax factor is not applied and the taxable value shall not exceed the depreciated value floor calculated using the cost basis method. The administrator is also required to utilize the income approach for solar energy facilities that generate 2 megawatts or less, so that similar facilities will be valued in the same manner.

(Note: This summary applies to this bill as enacted.)


Became Law


Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/22/2021 Signed Act PDF
    04/13/2021 Final Act PDF
    04/09/2021 Rerevised PDF
    04/08/2021 Revised PDF
    03/02/2021 Reengrossed PDF
    03/01/2021 Engrossed PDF
    02/16/2021 Introduced PDF

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details