Paying Taxes to Our Communities

3/8/2021

“Most people do not realize that each year Fort Loudoun Electric Cooperative (FLEC) pays hundreds of thousands of dollars in taxes to local government entities,” Jarrod Brackett, FLEC’s General Manager/CEO shared.  Brackett explained, “FLEC is not exempt from paying taxes.  The tax is based on all of the 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 formulated amount is paid for all plant assets assessed to the respective counties and cities. FLEC pays ad valorem taxes to all three counties and the three incorporated city taxing districts that it serves.  These tax payments are reinvested by each county and city to provide police & fire protection; maintain & improve our area roadways, schools, parks, and for various other community services deemed appropriate by the governing bodies.  Not all utilities are required to pay taxes to the governing authorities in the areas that they serve; FLEC is honored to be able to give toward meeting the community needs of those areas we serve.”  
This year FLEC’s ad valorem taxes totaled $853,233.  Over the past 15 years, FLEC has paid $10,669,780 to local county and city governments that are incorporated.  “Fort Loudoun Electric Cooperative (FLEC) is one of the larger tax paying companies in each county it serves,” John Loope, FLEC’s Board President, pointed out at a recent board meeting.  
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 33,700 members in portions of Blount, Loudon and Monroe counties.