(Neb.)-Tax Valuation Of First Keystone Pipeline Jumps Skyrockets

By: Roxie Graham-Marski Posted at: 08/14/2012 10:33 AM

   Photo: The Nebraska Sandhills

      LINCOLN, Neb. (AP) - The latest tax valuation of the first Keystone pipeline to cross the state carries a promise of extra revenue for 10 Nebraska counties.
 
     The $538.5 million assessed valuation is nearly four times the previous valuation of $145.2 million.
 
     The latter figure reflects that portions of the project were still under construction when the centrally assessed value was set a year ago by state property tax administrator Ruth Sorensen.
 
     The Keystone pipeline carries crude oil from Canada south through North and South Dakota and Nebraska on its way to Wood River and Patoka in Illinois and to Cushing, Okla.
 
     The second TransCanada pipeline, Keystone XL, is still under review by the U.S. State Department and the Nebraska Department of Environmental Quality.

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