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FLEC GIVES BACK BIG… AT TAX TIME

2/21/2018

“Each year, Fort Loudoun Electric Cooperative (FLEC) pays hundreds of thousands of dollars in taxes to local government entities,” according to Jarrod Brackett, FLEC’s General Manager/CEO. Brackett explains, “FLEC is not exempt from paying taxes. FLEC pays ad valorem taxes to all three counties and three city taxing districts that it serves. These tax payments are reinvested in each county and city. FLEC is honored to be able to give back in this manner.”
The tax is based on all FLEC plant assets in each taxing district. For example, all poles, wire, transformers and other special equipment, plus any other property owned, is assessed by the state every April and paid by FLEC the following February. A dollar amount is paid for all plant assets assessed to the respective counties and cities. This year FLEC’s ad valorem taxes totaled $799,192. Over the past 15 years, FLEC has returned $9,458,050.87 to local county and city governments.
Stay tuned to www.flec.org, the FLEC Facebook account, or Twitter to get updates on how FLEC provides services and support for the communities we serve. FLEC is a private, non-profit organization that was formed in 1940 to provide safe, reliable electricity at the most reasonable cost and promote the economic development of the communities it serves. FLEC serves more than 32,000 members in portions of Blount, Loudon and Monroe counties.

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