The Vernon Select Board has signed a one year contract with Entergy that will stabilize the town’s tax base through March 2015.
The agreement sets the value of the Vermont Yankee plant at $280 million for the entire fiscal year. The current assessment is $300 million.
Officials say the deal is a good one for the town, since the plant will stop selling power halfway through the contract, in December 2014.
Vernon Select board chairman Patti O’Donnell says the agreement buys the town some time to plan for life without its biggest taxpayer.