Pacific Gas & Electric Co. (PG&E) said it will pay more than $148 million to 49 California counties for its property tax payments. Merced County is receiving $2,035,253.25.
The amount, which PG&E is paying this week to the counties in which it operates, represents full, timely payment of property taxes due for the last six months of 2011, from July 1 to Dec. 31, the company said in a news release.
“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.
The company’s total tax payments to counties for the last sixth months of 2011 increased by almost $7.5 million over the same period in 2010.
The overall increase is tied to higher assessments as PG&E invests in infrastructure projects throughout its Northern and Central California service area. PG&E’s investments have included building new power-generating stations and upgrading equipment to boost electric reliability, the news release said.--Sun-Star staff