Ohio Fights for $5.67 Billion Pipeline Valuation at High Court

A natural gas pipeline is worth $5.67 billion for tax purposes, the Ohio Tax Commissioner told the state’s high court Tuesday.

Ohio’s appraiser correctly accounted for assets inseparable from the pipeline that were related to its function, Tax Commissioner Patricia Harris said. Appraiser Brent Eyre “did not simply value the pipe in the ground,” Harris’ merit brief said.

Eyre also correctly included Rover Pipeline LLC’s construction costs of the pipeline in his appraisal.

The constructions costs were incurred recently before the appraisal, and the lower tribunal recognized that such expenses are relevant to a property’s valuation, Harris said. Rover’s protest ...