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Valero's Corpus Christi facilities now valued by appraisal district at over $6B

Nueces County Chief Appraiser Ronnie Canales said Valero has disagreed with its appraised property values for the past five years.

CORPUS CHRISTI, Texas — Nueces County Chief Appraiser Ronnie Canales said he is willing to work out a deal with Valero officials if they choose to come in and settle their new appraisal, valued at over $6 billion.

Canales made the offer after the plant's valuations skyrocketed compared to previous years. New financial information obtained by the district shows that Valero is worth billions of dollars, not the $800 million the company claims.

"I hate to do this through the media, but if they're not going to come and try and settle and do what's best for the community, you know," he said.

Canales stated that Valero has disagreed with its appraised property values for the past five years. The county claims Valero's property is worth $6 billion.

"They came back with the same numbers that they had in the year 2018. Their talking points are that we don't want a one in front of our value. Okay. You can put anything else you want on there but it cannot be a billion plus," he said.

Canales said he's willing to negotiate to avoid litigation.

"The number that we are looking at can be anywhere from 6 billion for what it's worth, or it can be less than the 6 billion. That number is anywhere from 5 to 3 billion," he said.

According to Canales, Valero goes through the same process as any home or business owner disputing their appraisal. However, Valero can afford attorneys to fight the appraisal all the way to the state Supreme Court. 

"99 percent of the time when Valero goes to court they win," he said. "When they get up to the Texas State Supreme Court."

3NEWS contacted a Valero spokesperson on May 15 for a comment on the issue and reached out again on Wednesday. We have not yet received a comment, but we will update this story if they choose to offer one in the future. 

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