Jury to decide value of Riesel coal plant in $850 million dispute

A McLennan County jury will be asked this week to determine the taxable value of the sprawling Sandy Creek coal-fired power plant in Riesel, which is taking its appeal of the plant’s appraisal to court.

Jury selection is set to begin Monday morning in Waco’s 170th State District Court in Sandy Creek Energy Associates’ lawsuit against the McLennan County Appraisal District.

The lawsuit will focus on the plant’s $850 million appraised value for tax years 2014 and 2015. Sandy Creek officials will be asking the jury to drastically reduce the appraised value, claiming that the plant’s market value was vastly inflated by appraisers.

In June 2015, a five-member Appraisal Review Board reduced the plant’s value from MCAD’s appraisal of $1.05 billion to the current $850 million.

Read more: http://www.wacotrib.com/news/mclennan_county/jury-to-decide-value-of-riesel-coal-plant-in-million/article_40716da5-f79c-5b5e-bdf6-d9c2404f79b8.html