Attention oilheat marketers: Turn brownfields into greenbacks using property tax reductions
- American Land Recycling Corp., Exton, PA (United States)
A readily available, yet sorely under-utilized, means of enhancing the cash flow of properties burdened with environmental contamination or compliance costs is property tax abatement. Unfortunately, too many oil dealers unknowingly accept the fact that their contaminated properties are presently being taxed as though they were clean. Dealers can also participate in state programs which encourage landowners to cleanup and rehabilitate contaminated sites. Some of these legislative initiatives offer economic and tax incentives which allow owners to revitalize their properties without being fully taxed on any increase in value. Practical guidance is given on how fueloil suppliers can obtain property tax reductions which reflect the economic impact of any prevailing environmental problems. Fueloil companies who lease property can also benefit from property tax reductions. Many commercial leases call for the tenant to pay the property taxes. Tenant/suppliers with this type of obligation benefit when the property taxes are reduced.
- OSTI ID:
- 518386
- Journal Information:
- Fueloil and Oil Heat with Air Conditioning, Vol. 56; Other Information: PBD: Mar 1997
- Country of Publication:
- United States
- Language:
- English
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