By Harvey Rice
GALVESTON – The Texas City school district is among four taxpayer-funded entities in Galveston County that will have to repay Valero almost $5 million after a jury agreed that the oil company’s Texas City refinery was overvalued on the tax rolls.
Texas City, Galveston County and the College of the Mainland will also have to pay back the giant San Antonio-based refiner. The Texas City school district has to pay $2.45 million, the largest share.
The refund is the second the school district has made – $2.38 million in 2009 – to the oil company and may not be the last. Valero has at least two other lawsuits pending aimed at clawing back property taxes it alleges are unfair.
“It definitely impacts education in Texas City ISD,” school district spokeswoman Melissa Tortorici said.
Read more at HoustonChronicle.com.