Shock decision: Tax Appeals Board rejects Chevron appeal; increases valuation

The Contra Costa Tax Appeals Board today released its findings in favor of higher valuations for Chevron’s Richmond Refinery after rejecting proposals from both the County Assessor’s office and Chevron! Instead, the board made its own determinations based largely on the report provided by Baker & O’Brien, the County Assessor’s consultant, after rejecting the Assessor’s own proposal. Lots to unpack; see PDFs of findings below. Richmond City Councilman Tom Butt sent this info to his mail list with subject “Shocking decision on Chevron Proerty Tax:

UPDATE 11:14 a.m.
The E-FORUM stringer at the Contra Costa County Supervisors Chamber just reported that the Assessment Appeals Board surprised a lot of people by actually increasing Chevron’s valuation for years 2007-2009, as follows:

· 2007 increased from $3.413 billion to $3.713 billion
· 2008 increased from $3.430 billion to $4.450 billion
· 2009 increased from $3.105 billion to $3.793 billion

See the Second document below (Supplemntal Findings) as this is where the Board determined that the rehab work done by Chevron at its refinery amounted to “new” equipment in terms of increasing capacity (and value) of the plant). This may be the critical finding that caused the Board to increase valuations.

Chevron Findings & Decisions on Supplemental 2007,2008

Chevron Findings & Decisions on Supplemental 2007,2008

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Comments

  1. Chevron Foe says

    I think this is great. I had a similar experience when I challenged my tax role after purchasing a property a few years back. Instead of the 1% plus of the new sales price the assessor increased the taxes based on a value of seven thousand more than the purchase price. I went to appeal the decission and was warned that the tax could even go up higher after a hearing if the value was established higher. Three years later the hearing still had not come and I sold the property. I dropped the claim.

    More than likely Chevron’s team of lawyers will cost this county one way or the other. It is sad that a multi billion dollar profit company will probably push this issue further.