BIG SPRING - The Alon refinery has dropped its lawsuit against the Howard County Appraisal District.
The lawsuit was dropped Friday morning. Alon has agreed to pay taxes on an appraisal of $169 million. Appraisers originally marked the refinery at more than $200 million.
Alon had maintained that the appraisal office was setting the value of the property too high. There is no word yet on why Alon decided to drop the lawsuit.
Howard County had to raise its tax rate earlier this year due to the lawsuit to make up for the lost revenue.
This was the second time Alon has taken Howard County to court over its property value.