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life in rural nebraska

New figures on ethanol’s local impact

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gpreThis story ran in our local paper this week, and is a great example of the local impact renewable energy has not only on our economy but also our tax rolls (reprinted with permission from the Ord Quiz):

Green Plains Renewable Energy Adds Boost to Local Economy

Valley County Treasurer, Janet Suminski reports that in July the ethanol plant owned by Green Plains Renewable Energy, Inc. paid personal property taxes to her office in the amount of $891,353 for the 2008 taxes. Because the business was sold, personal property taxes for 2009 were also paid in the amount of $623,497.

This results in the following tax dollars distribution: $261,265 Valley County, $445,636 Ord City, $669,165 Ord Public Schools, $34,962 Ord Township, $18,190 Lower Loup NRD, $9,570 Educational Service Unit, $58,032 Central NE Community College, $8,770 Ag Society and $9,260 VC Airport.

A few months ago, there was a report stating Valley County had one of the largest valuation increases, and thus largest tax dollar increases. This is true, because when the ethanol plant was added to Valley County’s valuation with an increase of $19,924,200 for personal property and $37,430,500 for real estate, for a total of $57,354,700; this was a large increase. The real estate taxes currently are credited to the TIF bonds, but when the bonds are paid off, that money will also continue to be paid and distributed to our local entities.

The Treasurer’s office has a spreadsheet comparing the 2007 and 2008 tax district levy comparison. Many of the tax districts levies were decreased.

This is a great boost to our local economy, considering that every dollar spent locally has an average turn around of seven times. The tax dollars received by the county pays salaries, buys local gravel, etc. Salaries received are in turn spent on goods and services. It’s our local people who have built and maintained our communities.

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Written by Caleb

July 30, 2009 at 7:10 pm

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