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PG&E Pays its Property Taxes

Nevada County is one of many enjoying some welcome revenues since last week’s payments from Pacific Gas & Electric Co. for property taxes in its service area.

More than $148 million from the company went to 49 California counties in which it operates to cover its property tax requirements due for the last six months of 2011. Brittany McKannay says Nevada County will receive $883 thousand.

“$883,000 of that will go to Nevada County. El Dorado County will receive just over a million dollars, Placer County will receive about 3.3 million and Sacramento County about 2.8 million.”

According to a release from the company, the amount is almost $7.5 million over the same period in 2010 due to higher assessments as the gas and electric utility invests in key infrastructure projects throughout its northern and central California service area. Among those are new power-generating stations and upgraded equipment to boost electric reliability.

“Local governments are tackling public safety, environmental protection, health care and education needs with limited financial resources these days,” said Mark Caron, PG&E’s vice president of tax, in the release. “Our timely and substantial payments to local governments for property taxes and other fees will help communities address those vital services.”

Based in San Francisco, PG&E serves around 15 million people throughout a 70,000-square-mile area in northern and central California.

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