Texas Court Withdraws Wind Farm Tax Judgment After Settlement

A Texas appeals court Wednesday set aside its December judgment overturning a jury verdict that valued a wind farm at $197.4 million after the parties reached a deal to settle the case.

The Texas Court of Appeals, Fourth District, granted Rocksprings Val Verde Wind LLC and the Val Verde County Appraisal District’s joint motion to dismiss the appeal and withdraw the judgment. The court held in December that federal production tax credits and power purchase agreements are intangible assets that can’t be considered when assessing the value of the property.

• The original holding was based on the district’s expert testimony ...