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Posted: Thu 1:31 PM, Nov 03, 2011

Utility Property Values, Tax Revenue Up In W.V.

CHARLESTON, W.V. (AP) - West Virginia is getting a tax revenue boost from rising values of utility companies' properties.

Property Tax Division director Jeff Amburgy says the appraised value of utilities' properties has risen by more than $200 million to $8.5 billion in the past year. He told the Board of Public Works on Wednesday that the state will receive about $6 million in additional property tax revenue.

Amburgy tells The Charleston Gazette that electric utilities have made significant investments in their properties, including pollution control equipment at power plants.

He says the Marcellus Shale field appears to be another factor. Natural gas companies or distributors are building or upgrading pipelines and buying new properties.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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