Value of wind farms to local governments questioned

MUNCIE -- Wind farms could be more valuable to local communities than riverboat casinos, but not if they don't pay their fair share of local property taxes.

"The ones we've looked at, on average, the state is assessing each windmill an average of $1 million," said accountant Gregory Guerrettaz, president of Financial Solutions Group in Indianapolis. "So right there, you could be losing a differential of $4 million on taxes during the life of that windmill."