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Dominion: Pipeline Could Provide Over $25M in Property Taxes

Posted: Updated: Dec 15, 2014 04:25 PM

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.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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