MarkWest Keeps Reduced Tax Valuation of West Virginia Pipelines

The assessed value of three natural gas pipelines owned by a Marathon Petroleum Co. subsidiary was properly reduced to account for decreased demand during the Covid-19 pandemic, a West Virginia appeals court ruled Wednesday.

The West Virginia Intermediate Court of Appeals declined Wetzel County Assessor Scott Lemley’s request to increase the valuation of the portions of MarkWest Liberty NGL Pipeline LLC’s property running through the county. The Office of Tax Appeals didn’t err when it applied a 35% reduction to the assessed value of the property at issue for economic obsolescence, Judge Daniel W. Greear wrote for the unanimous court. ...