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Donna Bechler
From: Don Warden
Sent: Monday, December 10, 2007 8:24 AM
To: fishtarish@gmail.com
Cc: Vicky Sprague; Donna Bechler; Monica Mika; Dave Long; Douglas Rademacher; Bill Jerke; William
Garcia; Rob Masden; Bruce Barker; Barb Connolly
Subject: Powertech Severance Taxes
Theadora B'ey,
You asked in an email to Vicky Sprague and the Weld County Commissioners a question regarding Powertech
having to pay severance tax. Under Colorado's severance law, companies that mine metallic minerals, including
uranium, pay a tax of 2.25 percent on gross income after the first$19 million earned in a given year. In addition
to the first$19 million in gross sales being tax free, Powertech would also be able to deduct 50 percent of its
property taxes under the state's ad valorem rules.
Therefore, in answer to your question, yes, Powertech will pay severance taxes, if their gross earnings exceed
$19 million and 50% of their property tax in a given year. We have no way of telling what their gross earnings will
be if and when they are ever operational.
If you have additional question please do not hesitate to call me at 970-356-4000 extension 4218.
Thanks,
Don Warden
Director of finance and Administration
/gA/ oo /"L //ll',9)
12/10/2007 2007-3741
Donna Bechler
From: Vicky Sprague
Sent: Monday, December 10, 2007 10:59 AM
To: CTB
Subject: FW: Uranium mining
I am also forwarding to you a response to Theadora B'ey from Don Warden regarding her
question on severance tax.
Original Message
From: fishtarish@gmail.com [mailto:fishtarish@gmail.com]
Sent: Thursday, December 06, 2007 4:09 PM
To: Vicky Sprague
Subject: Uranium mining
Hello, I am writing to express my great concern about the proposed
mining in Weld county. I would encourage the commissioners to please
really look into the history big companies mining for uranium have and
how this mining has impacted other communities. I lived down in New
Mexico for awhile and saw first-hand how devastating uranium mining is
to the areas left with the mess. If you think about it logically, from
a corporation's viewpoint, the bottom line is profit. They can say
whatever they have to in order to get permission to move in and mine.
Unfortunately, nobody is there to make them do what they originally
said. Once the aquifer is polluted, you can't go back. Water is such a
precious commodity to everyone living here, we don't have any to spare
and play Russian roulette with. Of course they will say it is safe,
they always say that. I have watched countless documentaries about
various industries and inevitably, the big corporation says that it will
be safe, but then the opposite happens and the tax payers are left to
try to clean up the mess, people get sick and land values go down.
Please look at the big picture. Also, I recently saw something
questioning if Power tech would actually pay any severance tax after all
was said and done. Do you have any information about this?
Thank you for your time.
Sincerely,
Theadora B'ey
125 Third St
Fort Collins, CO 80425
970-372-1448
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