The State Supreme Court reaffirmed on Wednesday that the Trans-Alaska Pipeline is worth $10 billion.
Oil companies had argued that the pipeline should only be assessed at $850 million, and they based that number on the tariffs collected. At that lower value, the property taxes they 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. Its worth also comes from its ability to transport the billions of barrels of oil from the North Slope.
While the decision only concerns the 2006 assessment, oil companies have made similar arguments over the pipeline’s for other tax years.
- There has been no sign of progress in resolving the state's budget crisis. Special sessions typically cost $20,000 to $30,000 each day.
- Reliable food sources are more important to Steller sea lions than abundant prey.
- The nonpartisan Congressional Budget Office estimates that the GOP's Obamacare repeal-and-replace bill would also reduce the deficit and leave some sick Americans unable to buy coverage.
- A 60-year-old Juneau woman came home Tuesday night to find her door forced open, according to a Juneau Police Department news release. She chased two men out of her home, and then continued after them giving police updates on their location until their arrest, according to the police.