Wind and solar energy projects are highly lucrative. That’s true for the energy companies, and it’s true for individual property owners who lease their land to these projects.
That profitability can increase your land’s value which, in turn, could drive up your property taxes. Will you end up paying more in taxes in order to enjoy profits from a renewable energy project?
Maybe not. Texas law allows counties to issue property tax abatements or exemptions for this very reason. After all, renewable energy projects benefit the municipality, the state of Texas and society in general.
Not sure if your county will offer a tax abatement? It may be possible to secure a tax abatement as the project is being set up.
Securing property tax abatements requires legal, industry and governmental knowledge
There are just a few firms that are recognized as leaders in the renewable energy field, including Wetsel, Carmichael, Allen, & Lederle, L.L.P. If these firms have sufficient legal, regulatory and industry knowledge, they can help facilitate a tax abatement for a wind or solar energy project. This requires:
- An understanding of the applicable federal, state and local laws and regulations
- Familiarity with municipal governance
- Industry knowledge of solar and wind energy projects
Wetsel, Carmichael, Allen, & Lederle, L.L.P., has assisted hundreds of municipalities and energy companies throughout the Southwest U.S. to develop property tax abatements for renewable energy projects.
In general, this process requires the establishment of a project zone and then securing the approval for the tax abatement from the county commissioners. Next, we work with the county and the energy company to develop guidelines and criteria for the proposed tax abatement.
Wetsel, Carmichael, Allen, & Lederle, L.L.P., also represents landowners and energy companies as public hearings about the proposed abatement.
Securing tax abatements for landowners is a fair and positive way to promote renewable energy. You shouldn’t have to put up with skyrocketing taxes just because your land is being used for this purpose.