MTEMC’s Tax Payout To Cannon County Tops $188,000
Monday, March 22, 2010 4:21 pm
Middle Tennessee Electric’s tax payment was the largest the Cannon County Property Assessor’s office received this year.
The electric cooperative, which distributes power to virtually all of Cannon County, pays out ad valorem (Latin for “according to the value of”) taxes annually.
The tax is based on the assessed value of MTEMC infrastructure — buildings, substations, transformers, poles, lines. This year’s ad valorem tax total for MTEMC in Cannon County was $188,881 and an additional $19,683 was paid to the city of Woodbury.
The cooperative’s total ad valorem tax payout across its service area was approximately $4.3 million.
Middle Tennessee Electric serves approximately 180,000 residential and business customers in Cannon, DeKalb, Maury, Rutherford, Smith, Trousdale, Willamson and Wilson counties.