Tax Appraisals Of Refineries Unconstitutional: Calif. High Court

Law360, Los Angeles (August 05, 2013, 5:12 PM ET) -- The California Supreme Court on Monday ruled that the state tax board's method for assessing petroleum refineries is unconstitutional, saying that while the regulation is in line with the state's constitution and tax code, the board failed to adequately assess its economic impact. 

The high court agreed with the trial and appeals courts that the California Board of Equalization failed to satisfy Administrative Procedure Act requirements to assess the economic impact of Rule 474, which directed tax assessors to value petroleum refinery land and fixtures as...
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