West Virginia rejects Appalachian Power’s tax relief request
CHARLESTON, W.Va. (AP) — The West Virginia Public Works board has rejected Appalachian Power Co.’s tax relief request that said unusually mild weather hurt the company’s 2017 earnings.
The Charleston Gazette-Mail reports the board unanimously approved recommended 2018 assessed values for property owned by utilities in West Virginia on Thursday. That approval effectively rejected Appalachian Power Co.’s request.
Appalachian Power’s parent company, American Electric Power, asked the board in November to reconsider its assessment. American Electric property taxes manager Thomas Johnson said company earnings would be roughly $25 million less than State Tax Department estimates.
Kanawha County Commission President Kent Carper wrote the board a letter objecting to the request saying it’s unfair to consumers and “corporate welfare at its worst.”
Appalachian Power spokeswoman Jeri Matheney says the rejection won’t immediately affect electric rates.
Information from: The Charleston Gazette-Mail, http://wvgazettemail.com.