Date: March 4, 1996
A review, conducted by Massachusetts Alliance of Utility Unions (MAUU), of municipal property tax payments made by Boston Edison in fiscal year 1995 to 82 eastern Massachusetts cities and towns, says that a proposal to deregulate the utility industry jeopardizes $87 million in real estate and personal property taxes.
The study says that the economic impact of deregulation ranges from potential losses of, over $14 million a year for the town of Plymouth to $38 million to Boston. MAUU warned that all of the 82 communities have some sort of company facility on public property and receive real estate, personal property rental or cash abatement payments that supplement town budgets, and that current deregulation proposals and competition could force plant closures and threaten local utility jobs as well as cause tax revenue losses. The organization said that competition will cause a decrease in the value of electric generating facilities, and tax payments or operating revenues from municipal companies will plunge.