April 6, 2011, Port Jefferson Village, NY

Today, Port Jefferson Village Mayor, Margot Garant announced that the Village Board of Assessment has reduced the 2011/2012 tax assessment of the Port Jefferson power plant from $11,860,945 to $10,674,852. Due to the Village’s voluntary reduction in assessment, LIPA has agreed not to pursue any additional reduction of the Village taxes for the 2011/2012 tax year. Mayor Garant has committed to continue to work with LIPA towards a long-range solution.

The reduced assessment is an outcome of the tax grievance filed by the Long Island Power Authority to seek a reduction in the assessed value of the Port Jefferson power plant. The agreement only affects revenue to the Village and does not affect other taxes assessed and collected by the Town of Brookhaven for the Village school district, library and fire department.

“We are extremely pleased with this outcome and very appreciative of the LIPA’s acceptance of this initial reduction. This demonstrates their commitment to work together and to work with Port Jefferson Village as the host community.”
– Incorporated Village of Port Jefferson Mayor, Margot Garant

“LIPA appreciates the good faith effort of the Village of Port Jefferson to reduce the 2011/2012 tax assessment on the plant,” said Michael Hervey, Chief Operating Officer of the Long Island Power Authority. “This reduction will allow the Village to plan for the 2011/2012 tax year as well as pursue a more permanent solution. We went into this with the commitment to work with the Village and we have had several productive meetings to discuss the plant assessment and how we both can come to an agreement that would be fair to all of our Long Island customers. ”