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AND VARIABLE OPERATION AND MAINTENANCE COSTS Once tlie plant enters commercial operation, the plant owners incur fixed costs each year, including property taxes, plant insurance, facility fees for operating labor and ininor maintenance, and asset management costs. We subcontracted with the O&M services provider Wood Group Power Operations, Inc. to estimate facility operation arid maintenance fees as part of our Gross CONE calculation. Wood Group also provided estimate for variable O&M costs arid major maintenance and long-teiin service agreement (“L,TSA”) costs for use in PJM’s dispatch inodeling of E&AS offsets. A. PROPERTTYAX We calculated property tax rates for each location using state and county property records to calculate the implied tax rate based on 2010 taxes paid by tlie cui-rent plant owners in each CONE Area. For each location, we deteimined the relevant tax rates, which in many cases apply onlytotheassessedvalueofland,butinothercasesalsoapplytothevalueoftheplant. Table 33 contains a suinmaiy of the plant tax rates and total annual taxes in each county where we estimated the first year of operation (increasing each year by the 2.5% inflation rate that we estimated in Section V1.A). For Eastein MAAC we considered property tax rates paid by 3 different power plant owners in Middlesex, NJ.32 Each owner paid 4.25% property taxes on the land only arid had no additional taxes for the plant on the land. In Southwest W C , power plant owners paid 1.14% tax on land arid $831/MW tax on the power plant.33 In the Rest of RTO CONE Area represented by Will County, IL, property taxes are I .72% of land market value34(5.15% tax rate on one-third land market value).35 In Westei-n MAAC, the power plant owner paid taxes at a rate of 3.02% on the value of the land plus $1 3 5 M W on the power plant.36 In Dominion, we found property taxes did not need to be paid by power plants in Fauquier County, and the Cornrnissioner of the Revenue Office confirmed that power plants are exempt from property tax. 32 33 34 35 Used property tax information from Midwest Generation LLC. See Illinois Assessment Records (201 1). 36 Used property tax information from AES Red Oak, LLC., North Jersey Energy Associates, and Reliant EnergyNJHoldings. SeeNewJerseyAssessmentRecords(2011). Used property tax information from Mirant Mid-Atlantic LLC. See Maryland Assessment Records (2011). Illinois Department of Revenue (201l), p. 11. Used property tax information from Conectiv Bethlehem L,L,C. See Pennsylvania Assessment Records (201 1). 29PDF Image | THE APPLICATION OF KENTUCKY POWER
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