The Atlantic Coast Pipeline is poised to have a significant impact on the tax revenues of Virginia, North Carolina and West Virginia. During construction it’s estimated that the three state governments will receive $4.2 million in tax revenue per year. Once construction begins, the Atlantic Coast Pipeline also will pay annual property taxes to every locality where it is located.
Then, beginning in 2022, projected cumulative property taxes are estimated at $25 million annually.
Want to know how your community will directly benefit from these tax revenues?
Atlantic Coast Pipeline Property Tax Estimates*
|
Total, 2020-2030 |
| REGION TOTAL |
$342,384,000 |
|
|
| NORTH CAROLINA |
|
| Cumberland |
$18,748,500 |
| Halifax |
$10,944,500 |
| Johnston |
$18,182,500 |
| Nash |
$12,437,500 |
| Northampton |
$17,312,500 |
| Robeson |
$10,644,500 |
| Sampson |
$3,756,500 |
| Wilson |
$5,082,500 |
| NC TOTAL |
$97,109,000 |
|
|
| VIRGINIA |
|
| Augusta |
$24,343,000 |
| Bath |
$8,470,000 |
| Brunswick |
$10,074,000 |
| Buckingham |
$18,737,500 |
| Chesapeake |
$3,466,000 |
| Cumberland |
$5,746,500 |
| Dinwiddie |
$7,428,500 |
| Greensville |
$11,786,000 |
| Highland |
$3,514,000 |
| Nelson |
$15,258,500 |
| Nottoway |
$9,665,000 |
| Prince Edward |
$1,996,000 |
| Southampton |
$5,084,000 |
| Suffolk |
$8,106,500 |
| VA TOTAL |
$136,718,500 |
|
|
| WEST VIRGINIA |
|
| Harrison |
$2,373,000 |
| Lewis |
$32,491,500 |
| Pocahontas |
$21,251,500 |
| Randolph |
$25,777,500 |
| Upshur |
$23,956,000 |
| WV TOTAL |
$108,556,500 |
*Please note:
1. All tax calculations are based on current CAPEX & Income projections and are subject to change.
2. All tax calculations are based on the latest available tax rates and assessment ratios.
3. Changes in the construction schedules may affect the amount and distribution of the property tax payments in any given year.
4. Estimates shown are based on County rates only on the assumption that the pipeline assets will be located outside the City Limits of each State (except for the Laydown Yards in the Town of Culpeper & Clarksville, VA).
5. Estimate is based on project coming on-line in late 2021 for WV & Some VA Counties (Bath, Augusta,Nelson,Price Edward). All of NC & remaining VA Counties comes on line in late 2020.
6. Property tax amounts represent estimated Calendar Tax Year payments and NOT the Fiscal Year of the Taxing Jurisdictions.