Dominion: Gas pipeline means $25M in property taxes

Associated Press

Copyright 2014, The Associated Press

RICHMOND, Va. (AP) — Energy provider Dominion Resources Inc. says a proposed pipeline that would deliver natural gas to the Southeast would provide more than $25 million in annual local property taxes.

The Richmond, Virginia-based company said Monday that it has provided the property tax estimates to local governments regarding the $5 billion Atlantic Coast Pipeline.

The 550-mile pipeline that would run through West Virginia, Virginia and North Carolina is a joint venture between Dominion, Duke Energy, Piedmont Natural Gas and AGL Resources.

The property taxes range from more than $10 million annually in Virginia to $8 million in West Virginia and $6 million in North Carolina.

Payments may begin as early as 2016. If approved by federal regulators, the pipeline is projected to be in service by late 2018.

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