United to benefit most from NEXUS
LISBON — The financial benefits from the NEXUS pipeline could be substantial for some Columbiana County government bodies, especially the United Local school district.
A fact sheet issued last September by NEXUS estimates United Local could receive $4 million in additional property taxes from the pipeline during the first year of operations, dropping to $3.5 million by the fifth year. All total, the district would receive an estimated $18.9 million over five years.
That is part of the $33 million in additional property taxes generated by the project over its first five years, according to NEXUS. The other beneficiaries would be Franklin, Hanover, Knox and West townships, the county joint vocational school and county commissioners.
The NEXUS pipeline project received the green light last week from the Federal Regulatory Commission, although other legal challenges are expected. The 255-mile pipeline will carry natural gas across northern Ohio and into Michigan and Canada, starting at the natural gas collection and processing plant in Kensington. There will also be compressor stations near Kensington and Summitville.
The local tax is on production, and the pipeline is capable of transporting 1.5 billion cubic feet of gas per day, enough to meet the needs of 15,000 homes for a year.
Following are what the other governments are anticipated to receive annually in taxes from the pipeline:
∫ Franklin Township: $70,929, declining to $61,332 in year five.
∫ Hanover Township: $766,395, declining to $662,701 in year five.
∫ Knox Township: $51,850, declining to $44,835 in year five.
∫ West Township: $194,604, declining to $168,274 in year five.
∫ Vocational school: $372,223, declining to $321,861 in year five.
The county is supposed to receive $1.5 million initially, declining to $1.3 million in year five. All county agencies which collect property taxes, would get a share of the $1.5 million.