THREAD. "just as the tax breaks expired in 2018, Motiva suddenly announced that it was contesting the refinery’s appraised value of $3.5B, saying the structure & its contents were actually worth just $1.5B. Motiva sued..." #Chapter313 #txlege #txed texasobserver.org/texas-largest-… "Thanks to a team of high-powered lawyers & seemingly endless supply of $ for legal fees, Motiva forced the outmatched appraisal district to settle, saving tens of millions of $ in property taxes in one fell swoop & leaving Port Arthur ISD in crisis" #Chapter313 #txlege #txed

THREAD: "The spiraling costs of #Chapter313 — which soon are projected to top $1 billion per year — are just one example of how the program falls short of the benefits touted by supporters." #txlege #txed houstonchronicle.com/news/investiga… via @houstonchron "The actual value of the property fluctuates over the limitation period. The school district, however, must treat the property now worth nearly $250M as if it is only worth $30M. By the time the cap is lifted in year 11, the property value diminishes." #Chapter313 #txlege #txed