Supreme Court of California
Elk Hills Power v. Bd. of Equalization, S194121
In a case presenting questions regarding how the State Board of Equalization may assess the value of an electric power plant for purposes of property taxation and whether "emission reduction credits" (ERCs) are to be assessed under Revenue and Taxation Code sections 110(d), 110(e), and 212(c), the Court of Appeals judgment is reversed where: 1) section 110(d) ad 110(e) can be applied together; 2) the Board directly and improperly taxed the power company's ERCs when it added their replacement cost to the power plant's taxable value; and 3) the Board was not required to deduct a value attributable to the ERCs under an income approach.
Appellate Information
- Decided 08/12/2013
- Published 08/12/2013
Judges
- CHIN
Court
- Supreme Court of California