APPEARANCES:
SOUTH CAROLINA DEPARTMENT OF REVENUE
Burnet R. Maybank, III, its Director
SOUTH CAROLINA ELECTRIC & GAS COMPANY
Kevin B. Marsh, its Senior Vice-President and Chief Financial Officer
SOUTH CAROLINA GENERATING COMPANY
Kevin B. Marsh, its Senior Vice-President and Chief Financial Officer
SOUTH CAROLINA PIPELINE CORPORATION
Kevin B. Marsh, its Senior Vice-President and Chief Financial Officer |
ORDERS:
FINAL ORDER
The matter in dispute is a property tax controversy in which the Petitioners
appealed their property tax assessments for years 2002 and 2003. More specifically,
SCE&G and Pipeline protested the South Carolina Department of Revenue’s
(Department) inclusion of right-of-way easements as taxable property for tax years 2002
and 2003. SCE&G, Pipeline, and GENCO protested the Department’s reconciliation of
value for tax year 2003, claiming that the Department failed to assign proper weight to
the income approach to value. Following negotiations by the parties, the parties have
entered into a settlement agreement resolving both of the above-stated issues. This
settlement agreement is hereby made a part of this Order and is attached hereto. I find
that the provisions of the settlement agreement, including the method of assessment of
the taxpayers in future years, are rational and reasonable, and I approve them. I hold that
the parties have the power and authority to enter into the settlement agreement, including
its provisions concerning the method of assessment of the taxpayers in future years, and I
hold that the agreement is valid, enforceable, and binding on the parties.
Based on the consent of the parties, as evidenced by the signatures of the
parties below, it is the order of this Court that this matter is forever ended and dismissed
with
prejudice to all parties to this suit, as well as those parties in privity to such parties.
Marvin F. Kittrell
Chief Administrative Law Judge
Columbia, South Carolina
March 16, 2005 |
