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Assessor calls for changes in industrial valuations - The Galveston County Daily News : Business

October 24, 2014

County's appraisals under fire Assessor calls for changes in industrial valuations

Posted: Thursday, February 28, 2013 1:00 am | Updated: 8:17 am, Thu Aug 1, 2013.

TEXAS CITY — Valero’s court victory in contesting its Texas City refinery property valuation prompted a call by the county’s tax assessor for the central appraisal district to dump the firm that handles industrial value calculations.

In 2011, the Galveston Central Appraisal District assessed three of Valero’s properties, which include the refinery, to have a taxable value of $526.8 million. Valero argued that appraisers did not fairly compare the refinery with other industrial properties in the city and that the value of the facility was actually $333.4 million.

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