08-26-16 ROUTT COUNTY TREASURER OFFERS PEABODY ENERGY A PAYMENT PLAN TO REMEDY DELINQUENT TAXES

Brita Horn logoROUTT COUNTY TREASURER OFFERS PEABODY ENERGY A PAYMENT PLAN TO REMEDY DELINQUENT TAXES

Steamboat Springs, Colo. (August 25, 2016) – Yesterday, Routt County Treasurer Brita Horn offered Peabody Energy a written payment plan that would allow Peabody to pay the delinquent personal property taxes that Peabody owes to the county as a result of its recent bankruptcy now, and delay payment of accrued interest and fees until Peabody exists bankruptcy.

“Colorado treasurers can accept partial payments of personal property taxes as part of a written payment plan,” said Horn. “If Peabody agrees, this plan will allow my office to recover nearly half of the taxes that Peabody owes to Routt County as quickly as possible. It’s important to me to work with Peabody to fulfill its longstanding and appreciated commitment to Routt County.”

Colorado law permits Horn to authorize a payment plan to accept partial payment for personal property taxes, but not real property taxes. The terms of the proposed payment plan are:

  • Peabody will promptly pay its 2015 personal property taxes due in 2016, in the amount of $733,148.86.
  • Peabody will remit payment of all accrued interest, costs, and fees related to these taxes no later than 10 calendar days after the bankruptcy court confirms debtors’ chapter 11 bankruptcy plan.
  • All interest, costs, and fees, related to the Personal Property Taxes will continue to be secured by the first-priority statutory lien on Peabody’s personal property, in accordance with Colorado law.
  • Peabody waives the right to challenge the amount of or claim to the outstanding accrued interest, costs, or fees related to the Personal Property Taxes as of the date of the written payment plan. My office will provide this amount to Peabody.

The Routt County Treasurer’s Office sent the offer to Peabody Energy this morning via email. The Routt County Board of County Commissioners received the same email to ensure all stakeholders stay informed.

CLICK HERE to read the letter

Written & submitted to The BARN by:

Brita Horn, Routt County Treasurer