The Alaska Supreme Court has reaffirmed a lower court ruling that set the 2006 value of the Trans-Alaska pipeline for tax purposes at nearly $10 billion.
Oil companies had argued the 800-mile pipeline and terminal facilities should be assessed at $850 million, based on the tariffs collected. At the lower value, the property taxes that producers pay to cities like Fairbanks and Valdez would be dramatically reduced.
The Supreme Court found that tariff income isn’t the only value derived from the pipeline. The court says the pipeline’s worth also comes from its ability to transport billions of barrels of oil from the North Slope.
While Wednesday’s decision concerns only the 2006 assessment, oil companies have made similar arguments over the pipeline’s worth for other tax years.
- That order is mostly symbolic. The Trans-Pacific Partnership, strongly backed by the Obama administration, was never ratified by Congress.
- After a few standout harvests and favorable proposals with the Board of Fisheries, managers are feeling optimistic heading into the new year.
- Kaiser had eight K300 finishes to his name coming into the race and an experienced core team that has raced the past three years. Brent Sass took second and Richie Diehl placed third.
- The application places a 1.08-acre parcel into federal Indian trust status. Tribal president Clinton Cook Sr. said the association applied for the status change to protect CTA’s government and homeland.