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Duke Energy

Information about Duke Energy

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Duke Energy owns the Crystal River Energy Complex in rural Citrus County, Florida which includes the now-closed Crystal River 3 Nuclear Power Plant and four fossil-fuel power stations using coal. In late 2012, Duke paid $19 million of their 2012 property tax bill of $36 million, and filed suit against the county, claiming the assessment was too high. Duke Power owns 4,700 acres (1,900 hectares) of land and improvements assessed at over $2 billion, constituting more than a quarter of the county tax base. Citrus County Property Appraiser Geoff Greene commented, "Given the complexity, history and dispute over the last year's assessment of Duke Energy's property, an independent appraisal team was needed and tasked to arrive at a fair and just value. " With the financial assistance from the Board of County Commissioners and the School Board, Greene hired two independent appraisal firms at a cost of $330,000. After five months of inspection, documentation and crunching numbers, the outside appraisal concluded that the county assessment was incorrect at $2. 32 billion; it should have been $3. 47 billion. Based on that figure, Duke owed the remaining $17 million for 2012 and 2013 taxes should be $54. 6 million. Greene stated, "There were a lot of unreported and underreported items. "