AUSTIN, Texas — The Travis Central Appraisal District is taking a closer look at the value of Tesla’s headquarters, east of Austin, after the company protested their property appraisal, knocking off more than $1 billion of its value.

In July, the TCAD appraised that facility at $4.6 billion. After protesting, an appraisal review board returned with a new property value for the Gigafactory of $3.4 billion.

On Thursday, the Travis Central Appraisal District Board of Directors voted to authorize the chief appraiser to file a lawsuit against Tesla. That authorization does not automatically create a lawsuit though, it just gives the board the authority to move forward with one if they choose to.

Chief Appraiser Leana Mann released this statement after the decision this week.

“The core found

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