'Take the money and run'
by Donna M. Perry
JAY - Assessors voted unanimously Monday to give the former owners of a
natural gas-fired power plant a $386,792.89 tax abatement and to reduce the 2005
valuation of the cogeneration center from $117.7 million to $90
million.
The decision saved taxpayers from potentially paying back $3.3
million in taxes for 2004 and 2005, if the decision had gone to court and the
company won. That would have required a nearly 20 percent property tax increase,
which would have been potentially crippling to Jay homeowners, Town Manager Ruth
Marden said in a statement released to the news media.
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