CORPUS CHRISTI, Texas — The years long property tax valuation rift between Valero refineries and the Nueces County Tax Appraisal District is over, Chief Appraiser Ramiro "Ronnie" Canales shared with 3NEWS Thursday night.
"It's something that went through mediation," Canales said.
During the last few years, Valero has been tied up in litigation over the property tax valuation issue dating back to 2018. Valero claimed their property to be worth around $800 million -- appraisers however said it was more like $6 billion.
The chief appraiser says the actual "settlement" numbers are still being worked out, noting that both sides came to a compromise.
"It's something that we might not say we agreed completely on, but it's something that we can say we're not litigating six years of costs for us," he said.
The deal, according to Canales, should take about six weeks or so to be finalized.
3NEWS reached out to Valero, but have not heard back.
This is a developing story, stay with 3NEWS for updates.
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