Tennessee Valley Authority
TVA 2008 Payments in Lieu of Taxes Total Almost $455 Million
October 30, 2008
TVA paid state and local governments almost $455 million in lieu of taxes in 2008, an increase of 1.7 percent from the previous year.
TVA will pay an estimated $495 million in lieu of taxes in 2009. The TVA Board today approved the final payment for 2008 and the 2009 estimated payments.
TVA makes tax equivalent payments to eight states and to local governments within those states in accordance with the TVA Act. Payments made during 2008 were based on TVA power sales revenue in 2007 and TVA-owned power property in each state. During the fiscal year, TVA makes monthly payments based on preliminary forecasts.
“TVA’s in-lieu-of-tax payments provide an important source of revenue each year for local communities throughout the Tennessee Valley,” said TVA President and CEO Tom Kilgore. “City and county governments use the money for schools, roads and many other needed programs and services.”
TVA has made tax equivalent payments since 1933. Most of the money is paid directly to state governments. However, all or part of the amount paid by TVA is redistributed to local governments according to formulas in each state.
In addition to the seven states in the service area, TVA makes payments to the state of Illinois for coal reserves owned by TVA.
Total payments by TVA to each state and county for fiscal year 2008 are:
Alabama |
$112,472,451 |
Georgia |
6,984,536 |
Illinois |
425,029 |
Kentucky |
42,936,785 |
Mississippi |
24,262,279 |
North Carolina |
2,604,755 |
Tennessee |
264,836,829 |
Virginia |
222,906 |
Total |
$454,745,570 |
TVA is the nation’s largest public power provider and is completely self-financed. TVA provides power to large industries and 159 power distributors that serve approximately 9 million consumers in seven southeastern states. TVA also manages the Tennessee River and its tributaries to provide multiple benefits, including flood damage reduction, navigation, water quality and recreation.
Media Contact
Gil Francis, Knoxville, (865) 632-8031
TVA News Bureau, Knoxville, (865) 632-6000
TAX EQUIVALENT PAYMENTS TO COUNTIES
FISCAL YEAR 2007
TENNESSEE
County |
|
Amount |
|
County |
|
Amount |
|
County |
|
Amount |
Anderson |
$ |
912,447 |
|
Hardeman |
$ |
661,117 |
|
Pickett |
$ |
147,311 |
Bedford |
|
590,509 |
|
Hardin |
|
838,717 |
|
Polk |
|
762,425 |
Benton |
|
1,348,163 |
|
Hawkins |
|
1,037,465 |
|
Putnam |
|
645,284 |
Bledsoe |
|
396,857 |
|
Haywood |
|
516,278 |
|
Rhea |
|
904,158 |
Blount |
|
1,095,674 |
|
Henderson |
|
647,123 |
|
Roane |
|
1,263,035 |
Bradley |
|
829,811 |
|
Henry |
|
1,403,386 |
|
Robertson |
|
659,568 |
Campbell |
|
1,043,646 |
|
Hickman |
|
613,635 |
|
Rutherford |
|
1,493,889 |
Cannon |
|
292,563 |
|
Houston |
|
322,898 |
|
Scott |
|
515,132 |
Carroll |
|
615,393 |
|
Humphreys |
|
1,215,274 |
|
Sequatchie |
|
279,913 |
Carter |
|
697,276 |
|
Jackson |
|
293,234 |
|
Sevier |
|
906,161 |
Cheatham |
|
426,323 |
|
Jefferson |
|
817,721 |
|
Shelby/e |
|
12,334,189 |
Chester |
|
303,804 |
|
Johnson |
|
389,945 |
|
Smith |
|
373,970 |
Claiborne |
|
726,608 |
|
Knox/d |
|
4,704,237 |
|
Stewart |
|
2,093,062 |
Clay |
|
215,315 |
|
Lake |
|
171,388 |
|
Sullivan |
|
1,409,460 |
Cocke |
|
602,841 |
|
Lauderdale |
|
508,033 |
|
Sumner |
|
1,166,106 |
Coffee |
|
740,738 |
|
Lawrence |
|
690,378 |
|
Tipton |
|
626,257 |
Crockett |
|
281,130 |
|
Lewis |
|
289,017 |
|
Trousdale |
|
167,342 |
Cumberland |
|
772,553 |
|
Lincoln |
|
612,330 |
|
Unicoi |
|
238,106 |
Davidson/b |
|
7,247,820 |
|
Loudon |
|
922,408 |
|
Union |
|
847,120 |
Decatur |
|
510,331 |
|
Macon |
|
343,979 |
|
Van Buren |
|
269,599 |
DeKalb |
|
315,531 |
|
Madison |
|
930,746 |
|
Warren |
|
632,954 |
Dickson |
|
662,041 |
|
Marion |
|
1,000,258 |
|
Washington |
|
875,286 |
Dyer |
|
597,722 |
|
Marshall |
|
447,588 |
|
Wayne |
|
674,755 |
Fayette |
|
690,757 |
|
Maury |
|
878,053 |
|
Weakley |
|
1,159,783 |
Fentress |
|
467,651 |
|
McMinn |
|
746,581 |
|
White |
|
479,034 |
Franklin |
|
977,184 |
|
McNairy |
|
562,947 |
|
Williamson |
|
1,163,476 |
Gibson |
|
719,305 |
|
Meigs |
|
613,343 |
|
Wilson |
|
941,317 |
Giles |
|
635,483 |
|
Monroe |
|
1,303,426 |
|
|
|
|
Grainger |
|
767,273 |
|
Montgomery |
|
1,147,439 |
|
Total/a |
$ |
91,662,687 |
Greene |
|
861,532 |
|
Moore |
|
169,081 |
|
|
|
|
Grundy |
|
359,892 |
|
Morgan |
|
507,452 |
|
|
|
|
Hamblen |
|
702,778 |
|
Obion |
|
593,816 |
|
|
|
|
Hamilton/c |
|
4,164,800 |
|
Overton |
|
437,683 |
|
|
|
|
Hancock |
|
205,865 |
|
Perry |
|
519,404 |
|
|
|
|
a. Includes TVA direct payments of approximately $1.8 million to counties. |
b. Includes payments to city of Nashville ($3,689,537), Davidson County ($3,548,236) and TVA direct payments to Davidson County of ($10,047). |
c. Includes payments to City of Chattanooga ($1,487,106), Hamilton County ($2,655,392), and TVA direct payments to Hamilton County ($22,302). |
d. Includes payments to City of Knoxville ($1,651,826), Knox County |
e. Includes payment to City of Memphis ($6,595,204), Shelby County |
TAX EQUIVALENT PAYMENTS TO COUNTIES
FISCAL YEAR 2007
ALABAMA
Calhoun |
$ |
133,110 |
Cherokee |
|
1,080,594 |
Colbert |
|
6,604,057 |
Cullman |
|
4,792,211 |
DeKalb |
|
3,217,942 |
Etowah |
|
188,896 |
Franklin |
|
2,137,121 |
Jackson |
|
10,124,273 |
Jefferson |
|
2,412,198 |
Lauderdale |
|
5,661,398 |
Lawrence |
|
2,428,602 |
Limestone |
|
7,465,988 |
Madison |
|
19,528,635 |
Marshall |
|
6,506,341 |
Morgan |
|
15,225,690 |
Winston |
|
229,667 |
Total/a |
$ |
87,736,723 |
Bibb |
$ |
326,006 |
Blount |
|
370,822 |
Chilton |
|
373,999 |
Clarke |
|
402,810 |
Clay |
|
310,270 |
Coffee |
|
487,007 |
Fayette |
|
330,717 |
Geneva |
|
387,744 |
Lamar |
|
327,844 |
Marion |
|
391,134 |
Monroe |
|
354,665 |
Pickens |
|
359,326 |
Randolph |
|
344,035 |
Walker |
|
547,672 |
Washington |
|
307,707 |
Total |
$ |
5,621,756 |
TOTAL |
$ |
93,358,479 |
a. Includes TVA direct payments to Alabama counties of $37,323.