Zachary T. Atkins and Caroline Koo on Tesoro Logistics Northwest Pipeline LLC v. Department of Revenue, the Oregon Tax Court, Regular Division, held that although a unit of property acquired by one centrally assessed company from another qualified as “new property” for purposes of Or. Const. Art. XI, § 11 (“Measure 50”), the unit of property’s existing maximum assessed value (“MAV”) was preserved in the hands of the new owner. Tesoro Logistics Nw. Pipeline LLC v. Dep’t of Revenue, No. TC 5252, 2021 WL 6700471 (Or. Tax Ct., Reg. Div., Feb. 19, 2021). As a result, the Oregon Department of Revenue was not entitled to redetermine the MAV on account of the acquisition. Continue reading on the SeeSALT blog.