Property:
Texas Appellate Court Says Wind Farm Valuation Erroneously Included Nontaxable Intangible Personal Property
Case No. 04-22-00524-CV, Tex. App., 4th Dist. (12/31/24). In a case of “first impression concerning the ad valorem tax valuation of an operational utility-scale wind farm consisting of several wind turbine generators,” the Texas Fourth Court of Appeals (Court) agreed with the taxpayer that the trial court “erroneously admitted irrelevant, unreliable expert testimony” from the local taxing jurisdiction where the jury wound up relying on improperly admitted expert testimony that “wrongfully included nontaxable intangible personal property in the expert’s valuation.” Accordingly, the Court reversed the lower court ruling and remanded the case “for a new trial to determine the 2018 ad valorem tax valuation” of the property that does not include nontaxable, intangible personal property. In this case, the underlying intangible personal property at issue consisted of certain federal production tax credits and power purchase agreements related to wind farms. Please contact us with any questions.
30 Rockefeller Plaza New York, NY 10182-0015 United States
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte’s approximately 415,000 peopleworldwide make an impact that matters at www.deloitte.com.
