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Chevron’s reversal of fortune in Contra Costa tax case

Tuesday, April 3, 2012

imageThe roof just fell in on San Ramon-based Chevron’s efforts to slash the taxes it pays Contra Costa County for its Richmond refinery. In a stunner, an assessment appeals board ruled yesterday that not only do public agencies not have to give back $73 million to Chevron for tax years 2007 to 2009, but that the oil giant actually owes $27 million more, the Contra Costa Times says.

Add: It’s a huge sigh of relief for county taxpayers, but especially in the city of Richmond, which depends on Chevron’s payments for 60 percent of its property tax proceeds.

Noted: The board’s 24-page report not only punched holes in Chevron’s numbers, but also hammered county assessor Gus Kramer for not assessing Chevron enough and for intentionally miscalculating the refinery’s taxable worth in possible violation of state law.
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