Update on Oxy
UPDATE REGARDING OXY
As you may know, Oxy USA Inc. made an error that caused it to overpay its property taxes several years ago, and after it discovered the error it petitioned Mesa County for abatement and refund of the overpayment. The county denied this petition and a lawsuit followed. Last month, the Colorado Supreme Court ruled that Oxy is entitled to an abatement and refund of taxes it overpaid in 2011. This ruling overturned an earlier ruling of the Colorado Court of Appeals in December 2015.
As a result of this latest decision, the county will have to refund to Oxy the amount it overpaid in 2011, with interest, unless the parties reach some other agreement. This refund will be paid from the property taxes collected in 2018 that would otherwise go to the County and the 3 local districts that previously received a share of the overpayment, including Plateau Valley School District (PV). As a result, PV's tax funding in 2018 will be reduced by its share of the refund payment. The amount of this reduction has not yet been determined.
PV should be able to recapture some of the revenue it is expected to lose in 2018 due to the abatement by adjusting its mill levy in December of 2018. However, that action will not help PV until taxes are collected in 2019.
We will continue to keep the taxpayers of PV informed as this unfolds. Any questions, please call me at 487-3547. Thank you,
Mr. Page, Superintendent of Schools