SALEM, Ore. (AP) -- Comcast has settled a long-running property tax dispute with the state of Oregon for $155 million.
The settlement, which sends an infusion of cash to local governments, resolves a dispute dating to a 2009 decision to assess the telecommunication company's assets in the state as a whole, rather than piecemeal.
Unlike local government tax assessments which count only tangible assets, so-called central assessment by the state's revenue department looks at the value of the entire company, including intangible assets like the Comcast brand. The broader assessment included about an extra $700 million in assets, according to media reports at the time.
A representative for the company, which will pay more in future years under new assessment methods included in the settlement, did not return a request for comment Monday.
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