The Mark Twain Transmission Project will generate an estimated $3.5 million in new annual property taxes for five counties in northeast Missouri, including millions supporting local school districts, once the project goes into service.
Ameren estimates that school districts in northeast Missouri will receive $2.3 million of revenue each year, beginning with the first year the project is in service. Property taxes paid by ATXI also support numerous other taxing authority districts in each county, including fire and police, ambulance, senior services, sheltered workshops and other services.
“The Mark Twain project brings important benefits to northeast Missouri,” said Jim Jontry, senior project manager, Ameren Transmission. “It improves the reliability of electricity for families and businesses and improves access to lower-cost energy while creating 200 jobs. It also provides a significant source of new local tax revenue that will benefit schools, roads and police, both during construction and even more so once the line is in-service.”
The $2.3 million each year for schools, payable starting in 2019 and in subsequent years if the project goes in service in 2018, includes an estimated $763,000 for Adair County, $292,000 for Knox County, $437,000 for Shelby County, $358,000 for Marion County and $498,000 for Schuyler County.* This is in addition to any revenues applicable during the construction period.
Construction work in progress also is taxed, and Ameren estimates that $700,000 in property taxes will be paid in the 2017-2018 time period under the project’s current schedule. This includes $263,000 for Adair County, $70,000 for Knox County, $100,000 for Shelby County, $185,000 for Marion County, and $93,000 for Schuyler County.
ATXI’s transmission investments already are benefitting Marion County. On Dec. 31, ATXI mailed Marion County a check for $565,000 in new taxes attributable to an additional $10 million in assessed value stemming from ATXI’s Illinois River Transmission Project. “The Palmyra R-1 School District received $402,000 of these new taxes,” said Joseph J. LaMacchia, a senior tax specialist for Ameren.
In February 2015, and following significant public input over a period of several months, ATXI announced the final route decision for the project. In May 2015, ATXI filed an application with the Missouri Public Service Commission asking the Commission to grant a certificate of convenience and necessity to build, operate and maintain the line. On Jan. 29 of this year, the Missouri Public Service Commission (PSC) completed evidentiary hearings on the proposed project, which included testimony from Ameren related to tax benefits of the project.
*Estimated property taxes for all school districts combined within the county for the 12 months ended 12/31/19, to be paid to each county by ATXI on 12/31/19. Estimates are based on an in-service date of 2018.