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State says it has tax agreement with NorthWesternPosted on Nov. 26
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State says it has tax agreement with NorthWesternPosted on Nov. 26

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HELENA - The state says it has reached a settlement with NorthWestern Energy over protested property taxes.

The Montana Department of Revenue said NorthWestern Energy will pay 98 percent of its assessed property taxes for 2005 through 2007. The company had wanted to pay about 80 percent.

That means the company will have paid $207.5 million for the period.

The settlement releases $43.8 million that had been held in escrow as part of the protest to 41 counties and more than 450 school districts.

The company will get a refund of about $4.65 million from the escrow account, of which $2.8 million will go to ratepayers. The company has also agreed to pay its 2008 taxes as assessed.

Company chief executive Bob Rowe says they are pleased the issue is settled and the money will be released to local schools and governments.

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