Abound's unpaid taxes leave many in bind
Abound Solar failed to pay nearly $1 million in property and equipment taxes for the 2011 tax year before it went bankrupt in July. That amount could roughly double if Abound's taxes go unpaid during the 2012 tax year, reaching a total of $1.8 million, according to the Weld County Treasurer's Office.
Before its bankruptcy, Abound Solar had drawn down $70 million on a $400 million loan guarantee from the Department of Energy. Taxpayers are expected to lose $40 million to $60 million in the collapse of the company, the energy department has said.
In Weld County, library, fire and recreation districts that rely on Abound's taxes will not see any of the dollars owed to them unless the county can recoup the money in bankruptcy court, county Assessor Chris Woodruff said.
The county alone would lose more than $180,000. That's a tiny amount considering the county's $204 million budget, and it could easily offset such a loss with its $12 million rainy-day fund. Nonetheless, the county would like its money.
"I don't think it's fair to allow students and
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