Oklahoma’s Wind Industry is on the attack again, claiming unfair treatment by legislative leaders and continuing to tell outright lies.
These four simple facts remain true:
1. You paid 80% of Wind’s Ad Valorem Taxes
Their claim to pay a higher tax rate stems from a mistruth that they pay ad valorem (property) taxes. Oklahoma Tax Commission records show that taxpayers actually paid 80% of their taxes in 2017. The industry is deferred from paying those taxes for the first five years. Because of a tax loophole, Oklahoma is required to reimburse school districts and counties for that lost revenue.
2. Zero Emissions Subsidy Program Will Cost Oklahoma Nearly $1 billion
Qualification for the Zero Emissions Tax Credit for new wind projects has ended, but we still have to pay $930 million in existing subsidies for 10 years.
3. Wind doesn’t pay any sales tax, something that could generate an additional $20 million annually in funding.
4. Many projects actually receive a refund from the state and enjoy a negative tax rate.
The Mammoth Plains Project in Dewey County enjoys an effective tax rate of minus 14 percent. Taxpayers funded $1.85 million of their $1.87 million ad valorem tax bill, meaning the wind farm only paid $19,000 in property taxes. They also qualified for a cash payment from Oklahoma taxpayers of $3.54 million in Zero Emissions subsidies.
It’s time for Big Wind to contribute their fair share. YES on SB 888!