Refinery Tax Assessments Are Fair, Calif. High Court Hears

Law360, San Francisco (May 09, 2013, 6:43 PM ET) -- California's tax board urged the state Supreme Court on Thursday to overturn two rulings finding its method for appraising petroleum refineries unconstitutional, arguing that it is both common market practice and legal to assess the value of land and equipment together.

The Board of Equalization argued that a California appeals court misinterpreted state regulations when it ruled that the tax agency can't tell assessors to value refinery land and fixtures as a single unit. If the state high court doesn't overturn the ruling, it would hurt...
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