Loup Power District recently delivered inside revenue payments and the second half of the in-lieu-of-tax payments to the counties it serves. This is a benefit of being served by a locally controlled, not-for-profit utility.
Like other businesses, Loup Power District pays sales tax, gasoline taxes, motor vehicle license fees, and permit fees. The in-lieu-of-tax payments are made to service area counties in lieu of occupation, personal property, and real estate taxes. County treasurers distribute the funds to the various taxing bodies in each county.
Total in-lieu-of-tax payments for 2023:
Platte — $ 9,713.77
Boone — $5,078.34
Nance — $ 6,445.84
Colfax — $240.48
Madison — $359.27
Total — $ 21,837.70
The District also makes additional payments to the counties to guarantee they receive 5 percent of the inside revenues from the towns in their areas subject to the in-lieu-of-tax payments.
Additional payments for 2023:
Madison — $35,869.84
Platte — $1,768,090.36
Nance — $125,372.12
Colfax — $114,618.87
Boone — $196,221.84
Total — $2,240,173.03