BP OIL RECEIVED $1B IN PROPERTY TAX REDUCTION FROM NOGUEZ’S OFFICEBy Los Cerritos Community Newspaper Group
One of the world’s largest oil producers, BP (formerly British Petroleum), received more than $1 billion worth of property tax reductions during the tenure of embattled Los Angeles County Assessor John R. Noguez, Los Cerritos Community Newspaper has learned.
British Petroleum, who owns and oversees a massive operation throughout Los Angeles County, had a major parcel slashed during a two year period between 2009 and 2011. BP Oil was represented by Attorney and Tax Agent Richard Ayoob.
Ayoob and his family have been major political contributors to Noguez political campaigns during his successful run for Los Angeles County Assessor in 2010.
The property listed is Parcel # 7315-006-003 which had a roll value of $1.230, 648,353. It was reduced to $775,565,000, a decline of 36%. The same property had a 2002 Roll Value of $1,219,140,634 and Noguez’ office reduced it down again to $994,168,046, a decline of 18%. It was slashed a third time in the summer of 2011 from $1,091,314,986 to $112,024,675 , an astounding decline of 89%.