Power Plant’s Tax Assessment Reduced by More Than 90 Percent
A power plant that produced both electricity and steam had lost a great deal of its market value following market de-regulation of wholesale electricity generation. The plant had a real estate tax valuation of $85.5 million yet had sold to new owners for less than $1,500,000.
Our attorneys negotiated with the community to drop the assessment to an agreed-upon $5 million, which would reduce taxes from $400,000 to $200,000, saving our client $1 million over the next five years.
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