Sandy Creek Energy Associates protested MCAD’s appraisal of $1.05 billion, asking the independent Appraisal Review Board to shave off $662.7 million. The board instead chose to set the appraisal at $850 million, slightly lower than its current appraised value, which itself is in legal dispute.
Sandy Creek has a lawsuit pending against the appraisal district for refusing its request to slash its appraisal last year, and Chief Appraiser Drew Hahn expects the company will broaden that lawsuit to contest this year’s valuation.
At stake in the two-year dispute are millions of dollars in tax revenue for local entities, such as the Riesel Independent School District and McLennan Community College. McLennan County also gets some revenue from the plant, though it granted the plant a partial tax abatement.
In Waco, Sandy Creek Energy Associates Tried to Lowball Their Appraisal Tax Due
