On June 20, the Appraisal Review Board heard arguments from representatives of the Appraisal District and Coleto Creek Power and determined the 2012 taxable value of the plant and related properties at $432,593,900. Both sides went to the ARB after Coleto Creek Power’s tax consultant group, Duff and Phelps, contended the plant’s 2012 tax value was approximately $200 million.
Coleto Creek Power had 60 days to file the judicial review.
"We weren't eager to file a petition," Coleto Creek Power spokesperson Julie Vitek said. "But in the end, we did not have a choice for the key reason that it appears the Appraisal District can't negotiate further with us unless we file one with the Appraisal Review Board's order."
More on this story coming to mysoutex.com.