LAWSUITS NEWS & LEGAL INFORMATION
PG&E Property Tax
Los Angeles, CA: (Nov-29-07) Pacific Gas & Electric Co. (PG&E) brought a lawsuit against several counties, stating that they owed the company refunds on property taxes paid. PG&E sought refunds of nearly $2 million from Yuba County alone and $5.3 million from seven other counties. Sources claimed that in addition to Yuba County, Placer, Nevada, El Dorado, Mariposa, Butte, Plumas and Sierra counties were also named in the lawsuit. The lawsuit had challenged a California State Board of Equalization ruling that PG&E had a possessory interest in hydroelectric facilities in the eight counties where it buys power. Possessory interest is the ability to tax a private entity that occupies publicly owned land.
As part of a settlement reached, rather than pay lump-sum refunds to PG&E, the defendants agreed to decrease the overall property tax bill by $10 million over the next 10 years. Sources close to the case stated that it was hard to predict the kind of impact the deal will have. Officials stated that PG&E won't know if the property-tax settlement will result in rate reductions for customers until the state Public Utility Commission conducts a review. [APPEAL DEMOCRAT: PROPERTY TAX]
Published on Dec-2-07
As part of a settlement reached, rather than pay lump-sum refunds to PG&E, the defendants agreed to decrease the overall property tax bill by $10 million over the next 10 years. Sources close to the case stated that it was hard to predict the kind of impact the deal will have. Officials stated that PG&E won't know if the property-tax settlement will result in rate reductions for customers until the state Public Utility Commission conducts a review. [
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