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Thursday, April 13, 2017

Ind. Decisions - "Indiana Supreme Court rejects AK Steel appeal"

Among the cases denied transfer, as reported on the April 7th transfer list, was Spencer County Assessor v. AK Steel Corporation, where transfer was denied 4-0 with J.Slaughter not participating. This is an Oct. 5, 2016 Tax Court ruling by Sr. Judge Fisher (ILB summary here, 2nd case).

Don Steen of the Spencer County Journal Democrat reports today on the denial. Some quotes:

SPENCER COUNTY – Spencer County saw a considerable victory last week in its legal battle with AK Steel over property-tax assessments.

The Indiana Supreme Court has rejected the company’s appeal of an Oct. 5 ruling from the Indiana Tax Court, which ruled in the county’s favor.

The years-long case centers on AK Steel’s 2008 attempt to claim a Pool 5 deduction, which allows company’s operating a blast furnace in Indiana to substantially reduce their assessed values and overall tax bills.

The county rejected this claim, arguing that the Rockport facility does not house a blast furnace, nor one in the state and, as such, should not be entitled to such a deduction.

Last year’s decision was the latest in a long line of legal proceedings on this matter, and when the Indiana Supreme Court rejected AK Steel’s appeal in an order issued April 4, it meant the tax court’s ruling will likely stand. * * *

The company could appeal the decision to the U.S. Seventh Circuit Court of Appeals, [County attorney Jeff Lindsey cautioned]. * * *

Still, the decision was undeniably favorable to the county. Without a Pool 5 deduction, AK Steel’s property-tax assessments will be considerably higher than otherwise, yielding more tax revenue for local coffers.

Posted by Marcia Oddi on April 13, 2017 02:53 PM
Posted to Ind. Sup.Ct. Decisions | Ind. Tax Ct. Decisions