Coal plant Challenges TX Property Appraisal. Slashes Value 60%

The company: Sandy Creek coal-fired power plant

The County of appraisal: McLennan County

The Appraisal Disrict’s values:

• $900 million in 2014
• $1.17 billion in 2015

The Company’s legal argument to reduce its appraisal by 60%: A willing buyer would pay no more than $380 million for the plant in 2014 and $395 million in 2015 + a recognition that power markets had slumped.

POWER | Texas Coal Plant Wins Tax Appraisal Case, Property Value Cut 60%