.

Spring-Ford SD, Exelon Reach Long-Term Settlement on Limerick Generating Station Property Tax

The agreement will value the station at $20 million through 2023.

Limerick Generating Station. Credit: Patch.
Limerick Generating Station. Credit: Patch.

The Spring-Ford Area School District and Exelon Generation Company reached a settlement on Exelon’s payment of property taxes for the Limerick Generating Station, according to the district.

As the largest taxpayer in the district, Exelon will remain at the fixed $20 million value from 2014 through 2023; taxes on the property will adjust based on the changing millage rate each year.

“We are very pleased with the new terms of the settlement,” Superintendent David Goodin said. “We appreciate all parties’ willingness to come to an agreement that was fair.”

Each year, Exelon will also contribute between $1.65 and $1.75 million to the district over the next seven years.

This is the first time a long-tem deal that has been agreed to by both parties since the early 2000’s.  The current deal was agreed upon in 2008 and will expire at the end of this year.

The agreement also includes payments to Limerick Township and Montgomery County.

henry eroh December 12, 2013 at 07:12 AM
tax thieves at work- it is bad enough these thieves in townships tax the life out of people and don't care anything about how people are supposed to pay for these new schools- they should not cost so much and quit building more-lower the salaries of these employees as no super or whatever is worth 3-4hundred tho a year
Eric Osborne December 12, 2013 at 07:18 PM
Dr Goodin's salary is 168,300 for this school year. The district is doing well, as far as performance. Here is an article link to back up my claim. I'm not sure where 300-400,000 a year comes from. As far as taxes for this township, I will take it any day of the week. Way lower than surrounding areas, by far. http://www.montgomerynews.com/articles/2012/06/30/springford_reporter_valley_item/news/doc4fedcb65334f3727387199.txt?viewmode=3
Average Citizen December 14, 2013 at 03:43 PM
Henry, would you rather the residents or a company pay these taxes? You sound like a complete jacka$$!

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »