A major property reassessment was upheld.
The state’s 4th District Court of Appeal ruled in favor of the Orange County assessor in a case involving the acquisition of Sav-On Drugs by Jewel Co. seven years ago. Jewel claimed that the merger, which included cash and an exchange of stock, did not involve a change of ownership or corporate control. But the Orange County assessor disagreed and reassessed dozens of properties in the county at $32.5 million, up 50%from their pre-merger assessment levels, Jewel said. “We believe the situation was very clear, and the court came to the same decision that we did,” said Orange County Assessor Bradley L. Jacobs.
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