Jay Adams and Bill Backstrom authored the Oilman Magazine article “Squeezing the (Remaining) Golden Geese: Refinery Closures May Lead to Increased Tax Scrutiny on Operating Facilities” on the effects that closed refinery facilities may have on owners, local community, and state and local governmental authorities as well as strategies businesses can use to maintain property tax responsibilities and opportunities. Jay and Bill emphasize that in local jurisdictions, where a large facility closes, owners of continuing businesses must create proactive strategies to lessen tax burdens without causing harm to the relationships within their communities. The two attorneys also outline steps to attain lower local property taxes and improved cash flow.
