Texas County Eyes Tax On Energy Transfer's $162M Gas Cache

Law360, Houston (January 24, 2013, 6:36 PM EST) -- A Texas county on Thursday told a state appeals court that a subsidiary of Energy Transfer Partners LP should pay property taxes on 33 billion cubic feet of natural gas it stored underground near Houston that had an appraised value of nearly $162 million.

The Harris County Appraisal District urged a panel of Texas’ 14th District Court of Appeals to reject a federal exemption to the tax claimed by ETC Marketing Ltd., arguing that the gas was “stored inventory” and not simply awaiting transit to ETC’s...
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