Oakfield residents have until Friday, March 14 to file for local property tax relief, as designated by the town’s agreement with First Wind.
“The town will receive $600,000 annually in community benefit payments and about another $500,000 each year in tax payments,” said John Lamontagne, spokesman for First Wind.
As a condition of the town’s agreement with First Wind, the town agrees to use 90 percent of the annual contribution to provide local property tax relief to permanent Oakfield residents, who receive a Homestead Exemption on their tax bill.
For residents who are otherwise eligible to receive a distribution from the annual contribution, if undischarged property tax liens are recorded against that resident’s homestead property, the town may apply that resident’s distribution share against unpaid taxes and lien charges due on that resident’s homestead property.
Property tax relief funds will be taxable income and Oakfield residents will receive a IRS Form 1099.
If residents miss the March 14 deadline and they received a 2013 Homestead Exemption, their check will still be on hold, pending paperwork to be filled out.
The first payment will be made between late March and mid-April.
