Make us your home page
Instagram

Judge rules against Citrus County on value of Duke Energy asset

Citrus County suffered a setback in its dispute with Duke Energy over the utility's 2012 property tax bill after a Circuit Court judge ruled a $1.5 billion asset could be calculated based on its "salvage" value.

Though the case is not completely resolved, the judge's recent decision means Citrus could lose as much as $10 million in tax money.

Citrus sent Duke a $34 million tax bill for 2012, of which the utility paid just $19 million and sued the county over the disputed amount. The action plunged the county school system into an economic crisis.

Duke argued that Citrus property appraiser Geoffrey Greene overvalued the pollution control system on its coal units and the broken nuclear plant at its Crystal River power station.

In his eight-page ruling on Nov. 8, Circuit Judge T. Michael Johnson wrote that Florida law states how pollution control systems should be valued and the county did not accurately assess Duke's property.

No final decision has been made on what Duke should pay for its 2012 taxes.

For 2013, Citrus delivered a $64 million tax bill to Duke, saying the utility failed to accurately and completely account for all of its assets in the county.

Duke has not responded to Citrus about the 2013 bill, but has told the Tampa Bay Times that it believes the county's latest assessment is inaccurate.

Ivan Penn can be reached at [email protected]ay.com or (727) 892-2332.

Judge rules against Citrus County on value of Duke Energy asset 11/15/13 [Last modified: Friday, November 15, 2013 7:06pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Datz to open in St. Petersburg, join the James Museum of Western and Wildlife Art

    Food & Dining

    Now Datz news.

    Get it? Tuesday, Datz, the longtime line-out-the-door, oft-Instagrammed and -Yelped Tampa stalwart known for shock-and-awe sandwiches and oh-so-much bacon, announced it is coming to St. Petersburg.

    Lunch guest eat at Datz Deli at 2616 South MacDill Ave. in Tampa. Times files.
  2. Equifax CEO Richard Smith steps down amid hacking scandal

    Personal Finance

    The chief executive of Equifax, the troubled credit reporting agency that suffered a massive data breach that affected as many as 143 million people, will retire, effective Tuesday, according to a statement by the company.

    Richard Smith, chief executive of Equifax, the troubled credit reporting agency that suffered a massive data breach that affected as many as 143 million people, will reportedly retire effective Tuesday.
[File photo: Joey Ivansco/Atlanta Journal-Constitution via AP]
  3. Bass Pro acquires Cabela's for $4 billion

    Retail

    Bass Pro Shops has acquired competitor Cabela's for a reported $4 billion. Bass Pro indicated it is seeking to appeal to all "outdoor enthusiasts" with the move, roping in hunting customers from Cabela's.

    Bass Pro Shops acquired Cabela's for $4 billion, Bass Pro announced Tuesday. | [JAMES BORCHUCK | Times]
  4. Tampa International named among least expensive airports

    News

    TAMPA — Florida airports apparently have a knack for getting it done cheaply.

    According to RewardExpert, Tampa International Airport is the fifth least expensive domestic airport. 
[CHARLIE KAIJO   |   Times
 file photo]

  5. Tampa-based vXchnge secures $200M loan to expand operations

    Corporate

    TAMPA — Tampa-based vXchnge, which operates data centers in 14 metro areas, has secured a loan for roughly $200 million for "major expansions and enhancements."

    Tampa-based vXchnge, a data center provider, secured a $200 million loan. Pictured is CEO Keith Olsen. | [Courtesy of vXchnge]