Shuttered Coal Power Plant’s Tax Valuation Upheld by Ohio Board

The Ohio Board of Tax Appeals retained the county’s $13 million valuation of a retired coal-fired power plant formerly owned by Duke Energy, rejecting calls by the owner to lower the assessment to $1.27 million.

Plant owner New Richmond Development Corp. argued its buildings were worthless now that they can’t be used to generate power and the land needs environmental remediation before redevelopment.

The board rejected the arguments Thursday, finding the case “unusual” because New Richmond didn’t provide any evidence of what it paid for the property in 2018. Executive Director Kathleen Crowley noted that “surprisingly” the company’s expert appraiser ...