The board's handbook continues to assert it has that authority. The California Assessors Association supported giving the assessment of power plants to counties. According to Bruce Dear, head of the association at the time, the group reasoned that under deregulation, the plants were no longer state entities and should be taxed locally. No benefit, companies say For now, Dear and others argue, the big power companies aren't getting a better deal by being taxed locally. Under the state, the power plants depreciated year after year.
Local valuations are likely to be higher, given recent purchase prices.
Frank said, who said the value of the plant is 30 to 40 percent higher than what he's able to assess it at under Proposition 13. Richard Wheatley, spokesman for Texas-based Reliant Resources, questions whether its five plants have gained value.