GOLIAD – Every year when Goliad County Chief Appraiser Richard Miller starts his property appraisal process, the key evaluation is the Coleto Creek Power Plant.
The plant represents more than 40 percent of the county’s tax base.
Two years ago, when the Dynergy company owned the plant, the company set the value at $0.
“They were not even trying to work with us,” Miller recalls.
Through negotiations with the appraisal district, the company settled on a value of $165 million.
Later, Miller says, the Dynergy’s vice president of operations paid a visit and agreed that his company’s original $0 stance was a mistake.
Then, Dynergy sold the plant to another company, Vistra.
With the next appraisal time, Miller was hoping for the best and fearing the worse.
His fears were unfounded. Vista agreed to the appraisal district’s valuation of $155 million; which resulted in $1.8 million in revenue for the Goliad Independent School System and $1.2 million in revenue for the county.
That same valuation will be carried over this year.
How much revenue the county and GISD can expect this year from the valuation will depend on the city and tax rates which will be set in September.
Bill Clough is the Goliad editor at the Advance-Guard Press and can be reached at 361-645-2330, or at goliad@mySouTex.com.