SPONSOR: Richey
Beginning January 1, 2024, assessors shall determine the true value in money of all real and tangible personal property associated with a project that uses solar energy directly to generate electricity that was built, operating, and generating power prior to August 28, 2023, to be de minimis in value, provided that the solar energy property has a placard output value of one megawatt or less.
The tax for solar energy property with a placard output value of greater than one megawatt shall not exceed $1,100 per megawatt. For solar projects in which the land associated with such project is reclassified, the property tax incurred from such land shall be included in the limit established in this bill.
Also beginning January 1, 2024, assessments of a solar energy project owned by a public utility company shall be made using the methodology for real and personal property in the following manner: (1) Any solar energy property of such a company shall be assessed upon the County Assessor's local tax rolls; and (2) All other real property, excluding land, or personal property related to the solar energy project shall be assessed using the methodology as specified in this bill. This bill is similar to SB 607 (2023).
Statutes affected: