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CORVALLIS, Ore. -- An Oregon Tax Court judge ruled that Hewlett-Packard's campus in Corvallis was overvalued on property tax bills from 2008 until 2011, a decision that could cost Benton County more than $9 million in tax revenue.

The Oregon Department of Revenue prepared the tax assessments. Department spokesman Derrick Gasperini told the Corvallis Gazette-Times that the agency is still reviewing the opinion and has yet to decide whether to file an appeal by a mid-June deadline.

The state and Hewlett-Packard put very different valuations on the 180-acre high-tech campus. The state, for example, valued the property at $337 million for the 2010-11 tax year. The company placed the value at $204 million.

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