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Contributing to Communities at Tax Time

4/5/2019

Public Service Announcement
March 27, 2019

    “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 explained, “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 by 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 formulated amount is paid for all plant assets assessed to the respective counties and cities. This year FLEC’s ad valorem taxes totaled $806,093. Over the past 15 years, FLEC has paid $10,264,143.90 to local county and city governments incorporated. Fort Loudoun Electric Cooperative (FLEC) is one of the larger tax paying companies in each county it serves.
    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 32,700 members in portions of Blount, Loudon and Monroe counties.

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