Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board of Equalization denies Southern California Edison’s 2025 unitary-value appeal, 4–1
Summary
The California Board of Equalization on Nov. 19 denied Southern California Edison’s 2025 appeal seeking a lower unitary value, concluding staff’s valuation adjustments were sufficient; the vote was 4–1 and the appeals attorney will prepare a written decision under Revenue & Taxation Code §40.
The California Board of Equalization on Wednesday denied Southern California Edison’s appeal of its 2025 board‑adopted unitary value, voting 4–1 to affirm the staff‑recommended figure.
The hearing, which filled much of the board’s Nov. 19 session in Sacramento, centered on whether staff properly reconciled two different value indicators — a historical cost less depreciation (HCLD) approach and an income (capitalized earning ability) approach — and whether several wildfire‑related costs should reduce the taxable unitary value.
Petitioners’ opening: assets that do not earn a return should be excluded
Marty Decassian, counsel for Southern California Edison, told the board the central question is ‘‘what would a reasonably prudent buyer pay for Edison’s property?’’ He argued that AB 1054 wildfire mitigation capital (which the petitioner says it is barred from earning an equity return on) and a one‑time $2.4 billion initial contribution to a wildfire insurance fund should not be included in the HCLD indicator or should…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
