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PEPCO PAYS $142 MILLION IN MARYLAND TAXES

PEPCO PAYS $142 MILLION IN MARYLAND TAXES

Pepco and its customers paid more than $142 million in taxes in 1997 to seven Maryland counties, dozens of municipalities in Prince George`s and Montgomery counties, and the state of Maryland. Next to the cost of fuel, taxes are the second highest component of a Pepco customer`s electric bill. Federal, state and local taxes currently account for about 18 percent of a Maryland customer`s bill.

Pepco was the single largest taxpayer in Prince George`s, Montgomery and Charles counties - the jurisdictions in which three of Pepco`s six power plants are located. These tax payments cover Pepco`s operating, real estate and personal property taxes as well as fuel/energy, gross receipts and sales and use taxes. These tax dollars contribute significantly to supporting public services in these jurisdictions. The following is a breakdown of the 1997 Maryland taxes paid:

Property Taxes (total)
$   67,215,845
    Prince George`s County
$   31,425,000
    Montgomery County
26,949,731
    Charles County
7,509,166
    St. Mary`s County
124,445
    Frederick County
30,378
    Howard County
304,623
    Calvert County
168,949
    25 Prince George`s County Municipalities
599,418
    3 Montgomery County Municipalities
103,907
County Fuel/Energy Taxes (total)
$   37,558,181
    Prince George`s County
$   22,099,270
    Montgomery County
15,458,891
Maryland Sales and Use Taxes
$   16,910,030
Maryland Gross Receipt Tax
$   21,018,000
GRAND TOTAL
$ 142,702,036

Pepco provides electric service to about 467,275 residential and commercial customers in Maryland.

Point of Contact:
Camille Smith

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