Ore. counties may pay Comcast now to save later
Wednesday, July 27, 2011
PORTLAND, Ore. (AP) -- Three Oregon counties may return $16.8 million in taxes to Comcast this fall to avoid paying millions more in interest later if the cable television giant wins a property tax appeal.
Multnomah County could return approximately $8.2 million to Comcast, Washington County $5 million and Clackamas County $3.6 million.
In addition to the metropolitan Portland counties, seven other Oregon counties could be affected: Benton, Columbia, Lane, Linn, Marion, Polk and Yamhill.
The Oregonian reports that Comcast saw its property values and taxes increase dramatically after the state Department of Revenue began using a new formula to "centrally assess" the cable giant in 2009-10. Until then, individual counties "locally assessed" the company's property value.
The case could also affect dozens of Oregon school districts, cities, fire districts and other public agencies.
Information from: The Oregonian, http://www.oregonlive.com