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.
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- Samuel Moore voted for Mitt Romney, John McCain and George W. Bush. But, he says, he can’t support Donald Trump.
- Smith wasn't doing interviews, but she issued a statement saying she was speaking up to set an example of truth-telling for her children and in hopes of ending the pervasiveness of sexual misconduct.
- Outgoing Juneau District Court Judge Keith Levy says he'll spend time with his eight grandchildren, work as a fill-in judge when needed and help mediate marriage dissolution cases.