EPB pays more than $19 million to local governments

Chattanooga, TN (WDEF) – Thanks to EPB More than $19 million, in lieu of tax payments, is going to the City of Chattanooga, Hamilton County and 15 other local governments.

“We are providing funds for all kinds of community projects,” said EPB spokesperson, John Pless, “And this helps reduce the need for local governments to pay taxes when they pay for these kinds of things.”

According to Pless the company actually doesn’t have to pay taxes, instead they pay what are called in lieu of tax payments based on the value of their property and assets. These assets include the fiber optic network and all the equipment that delivers services to homes and businesses in our area.

“Since EPB started construction of the Smart Grid, and the community’s fiber optic network, our payments to these governments have increased by 49 percent; this is just since 2008,” said Pless. Simply put, EPB is now the largest contributor of either taxes or payment in lieu of taxes to Hamilton County and the city of Chattanooga.

“And we’re proud to be able to offer them these funds each and every year, funds that are growing as the Smart Grid grows,” said Pless, “It’s the right thing to do.”

In the past decade EPB has made a total payment of more than $140 million in lieu of tax payments to Chattanooga, Collegedale, East Ridge, Red Bank, Ridgeside, Signal Mountain, Graysville, Lakesite, Soddy-Daisy, Walden Hamilton County, Bledsoe County, Bradley County, Marion County, Rhea County and Sequatchie County.