Giving Back To Our Communities
Each year, Ripley Power and Light Company makes in-lieu-of-tax payments to Lauderdale County and the local municipalities it serves.
A formula determines the amounts, which are audited by Tennessee Valley Authority and Ripley Power and Light. The funds come directly from operating revenues, which are received from the sale of electricity to customers.
The amounts are based on the net plant value—lines, poles, transformers and other equipment—in each community.
“As a public utility, we’re exempt from paying taxes,” said Mike Allmand, President and CEO of Ripley Power and Light. “Instead, we pay in lieu of taxes. We’re not required to do so, but we want to help our communities grow and succeed.”
The annual in-lieu-of-tax payments made at the end of each fiscal year are among the many investments the electric utility makes in its communities.
Other investments include working with TVA, and state and regional groups to foster economic growth; giving scholarships to students at Dyersburg State Community College and the University of Tennessee at Martin—Ripley Center; maintaining street and traffic lights; and helping with outdoor lighting in public areas.