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REFINERIES APPEAL TO COUNTY FOR TAX RELIEF
Up to $33 million at stake if properties reassessed
By Peter Felsenfeld
CONTRA COSTA TIMES
March 24, 2005
Despite banner profits, Contra Costa's two largest oil refineries want the county to cut this year's property tax bills by about two-thirds.
If ChevronTexaco and Shell Oil Products succeed in appealing the annual assessment, the state, county, Martinez, Richmond and two school districts would receive up to $33 million less than what the county billed, according to the Contra Costa Assessor's Office. Additionally, the ConocoPhillips refinery in Rodeo is seeking a $2.1 million reduction, a 23 percent cut.
The county's gasoline producing giants often contest their property taxes -- as do other companies -- but not to this degree, Contra Costa Assessor Gus Kramer said. "In light of the price of gasoline and their profits, this is obscene," Kramer said. "It's truly shameless."
The dispute unfolds during a high time for the nation's oil companies. The ChevronTexaco Corp. in 2004 earned more than $13 billion after taxes, a 77 percent increase over 2003, according to company filings. The corporate parents for ConocoPhillips and Shell last year enjoyed 77 percent and 42 percent gains over 2003, respectively.
http://www.contracostatimes.com/mld...nia/counties/contra_costa_county/11217797.htm
Up to $33 million at stake if properties reassessed
By Peter Felsenfeld
CONTRA COSTA TIMES
March 24, 2005
Despite banner profits, Contra Costa's two largest oil refineries want the county to cut this year's property tax bills by about two-thirds.
If ChevronTexaco and Shell Oil Products succeed in appealing the annual assessment, the state, county, Martinez, Richmond and two school districts would receive up to $33 million less than what the county billed, according to the Contra Costa Assessor's Office. Additionally, the ConocoPhillips refinery in Rodeo is seeking a $2.1 million reduction, a 23 percent cut.
The county's gasoline producing giants often contest their property taxes -- as do other companies -- but not to this degree, Contra Costa Assessor Gus Kramer said. "In light of the price of gasoline and their profits, this is obscene," Kramer said. "It's truly shameless."
The dispute unfolds during a high time for the nation's oil companies. The ChevronTexaco Corp. in 2004 earned more than $13 billion after taxes, a 77 percent increase over 2003, according to company filings. The corporate parents for ConocoPhillips and Shell last year enjoyed 77 percent and 42 percent gains over 2003, respectively.
http://www.contracostatimes.com/mld...nia/counties/contra_costa_county/11217797.htm