Duke Energy reaches agreement on tax dispute - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Duke Energy reaches agreement on tax dispute

CINCINNATI, OH (FOX19) - Duke Energy Ohio and the Ohio Department of Taxation have reached an agreement that will minimize the short-term community impact of a tax dispute. 

At issue is the method of assessing Duke Energy Ohio's tangible personal property tax value for tax year 2009.

Last month, the company began notifying local leaders it planned to pay upcoming tax bills based on its own analysis, as permitted by Ohio law, while it appeals the state's initial assessment of the company's personal property value. 

In recent days, officials at the Ohio Department of Taxation and Duke Energy have discussed the impact this decision would have on schools and local governments. The state and the company also have reiterated their mutual interest in trying to expeditiously move this dispute through the appeal process. 

As a compromise, Duke Energy has agreed to cut by half the amount it previously planned to withhold.   Under this agreement, Duke Energy will voluntarily pay 90 percent of the full-year 2009 tax assessment, inclusive of the initial payments made by Duke Energy, while the appeals process continues.   In consideration of this payment from Duke Energy, the Ohio Department of Taxation has agreed to briefly extend the date for an administrative hearing on the company's petition for a reassessment.

"Duke Energy and the Ohio Department of Taxation clearly have differing opinions on the value of our personal property, and that's an issue that the appeal process will resolve," said Julie S. Janson, president of Duke Energy Ohio and Duke Energy Kentucky.  "This compromise gives everyone some breathing room as we work through the appeal process."


Previous Stories:

Copyright 2010 FOX19. All Rights Reserved.

  • FOX19 HeadlinesMore>>

  • San Francisco to consider tax on companies to help homeless

    San Francisco to consider tax on companies to help homeless

    Monday, July 16 2018 9:59 PM EDT2018-07-17 01:59:19 GMT
    Tuesday, July 17 2018 7:52 AM EDT2018-07-17 11:52:45 GMT
    (AP Photo/Eric Risberg, File). FILE - In this Feb. 23, 2016 file photo, a man stands outside his tent on Division Street in San Francisco. San Francisco voters will decide in November 2018 whether to tax large businesses to pay for homeless and housing...(AP Photo/Eric Risberg, File). FILE - In this Feb. 23, 2016 file photo, a man stands outside his tent on Division Street in San Francisco. San Francisco voters will decide in November 2018 whether to tax large businesses to pay for homeless and housing...

    Homelessness is a major problem in San Francisco, as well as other cities on the West Coast with growing numbers of high-paying tech jobs that price lower-income residents out of a shrinking housing supply. 

    Full Story >

    Homelessness is a major problem in San Francisco, as well as other cities on the West Coast with growing numbers of high-paying tech jobs that price lower-income residents out of a shrinking housing supply. 

    Full Story >
  • Stranded woman drank water from moss after California crash

    Stranded woman drank water from moss after California crash

    Tuesday, July 17 2018 2:42 AM EDT2018-07-17 06:42:05 GMT
    Tuesday, July 17 2018 7:49 AM EDT2018-07-17 11:49:33 GMT
    (Monterey County Sheriff's Office via AP). In this Friday, July 13, 2018, photo posted on the Monterey County, Calif., Sheriff's Office Twitter feed, authorities tend to Angela Hernandez, foreground center, after she was rescued, in Morro Bay, Calif. A...(Monterey County Sheriff's Office via AP). In this Friday, July 13, 2018, photo posted on the Monterey County, Calif., Sheriff's Office Twitter feed, authorities tend to Angela Hernandez, foreground center, after she was rescued, in Morro Bay, Calif. A...

    A 23-year-old woman survived a 250-foot car plunge off a cliff and a week stranded on a remote California beach after she swerved to avoid a small animal while driving to her sister's house.

    Full Story >

    A 23-year-old woman survived a 250-foot car plunge off a cliff and a week stranded on a remote California beach after she swerved to avoid a small animal while driving to her sister's house.

    Full Story >
  • Judge temporarily halts deportation of reunified families

    Judge temporarily halts deportation of reunified families

    Monday, July 16 2018 12:03 PM EDT2018-07-16 16:03:29 GMT
    Tuesday, July 17 2018 7:49 AM EDT2018-07-17 11:49:31 GMT
    The American Civil Liberties Union is asking a federal judge to order the federal government to hold off one week on deporting reunified families that were separated at the border. (Source: Raycom Media, file)The American Civil Liberties Union is asking a federal judge to order the federal government to hold off one week on deporting reunified families that were separated at the border. (Source: Raycom Media, file)

    The American Civil Liberties Union is asking a federal judge to order the federal government to hold off one week on deporting reunified families that were separated at the border.

    Full Story >

    The American Civil Liberties Union is asking a federal judge to order the federal government to hold off one week on deporting reunified families that were separated at the border.

    Full Story >
Powered by Frankly