The Limerick nuclear power generating station will continue to make tax payments to Limerick Township, the Spring-Ford Area School District and Montgomery County under a settlement approved recently by all three taxing bodies. A previous agreement that expired in 2023 had set the assessment for the power plant property and buildings at $20 million. The new settlement increases the plant’s property assessment to $21.2 million and does not expire until 2033. Not only will the power plant make property tax payments based upon the assessment, but it will also make annual “payments in addition to taxes,” or PATs. Spring-Ford Area School District will receive $1.8 million from 2024 to 2026, provided the tax rate does not exceed a 3.5% annual increase. In 2027, those payments will increase by $50,000, with the same caveat, and by another $50,000 in 2030. Limerick Township’s PATs will begin at $88,507 in 2024; increase to $91,162 in 2027, and then again to $93,897 in 2030; all with the same 3.5% tax hike caveat. The PAT to Montgomery County has remained the same through both agreements, at $345,720.
Source: Pottstown Mercury; 2/19/2024