PECO Energy Co. v. Commonwealth

Dissenting OPINION BY

Judge LEADBETTER.

Although I joined in the original panel opinion issued in this appeal, further consideration of the exceptions filed by the taxpayer and the Commonwealth’s response have forced me to the conclusion that our original decision was in error.

I will not here repeat the background facts and procedural history already recounted by the majority. The question here is whether PECO understated the State taxable value upon which its Public Utility Realty Tax for 1997 was based. As noted by the majority, PURTA1 defined “state taxable value” as, “[t]he cost of utility…