Enbridge welcomes resolution to Minnesota property tax issue
July 01, 2021
We are pleased with this resolution of the 2012-2018 property tax issues, and to see legislation passed early this morning allowing the state to pay the county, township and school district portions of money owed to Enbridge as a result of the Tax Court’s decisions.
From the beginning, we have acknowledged that counties were caught in the middle of this tax valuation issue, and have been committed to working with them to ensure undue hardship does not result. In coming to this agreement Enbridge did make concessions for taxes in 2017 and 2018 and forgave interest for those years. We are pleased to have come to an equitable conclusion to this issue.
The total settlement to resolve the state’s overcharging is just under $47 million, of which $29 million is the local government share. Once the replaced Line 3 comes online Enbridge will pay an additional $35 million in taxes in the first year of operation.