BREC has dropped its appeal of ExxonMobil’s property tax assessment following a decision by the Metro Council last week to uphold the tax assessor’s work.
BREC, along with Together Baton Rouge, challenged Exxon’s property tax assessment last month, weeks after community organizing group Together Baton Rouge questioned why Exxon’s property value on its Baton Rouge facilities dropped in the last two years.
In its appeal, BREC alleged that ExxonMobil’s four Baton Rouge facilities are being under-assessed by some $338 million, resulting in a potential annual loss to parish agencies of some $5 million in tax revenue and to BREC, specifically, of some $700,000.
“After filing the appeal, we were informed by the Board of Review that the calculation was correct, and we will accept that determination,” BREC Superintendent Carolyn McKnight says in a statement, adding that it was BREC’s responsibility to file the appeal based on information first presented.
