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.
- Capital City Fire/Rescue Chief Rich Etheridge saying no citizen injuries have been reported. Firefighters are working the scene.
- The fate of the state’s budget remains uncertain. It remains to be seen how the House and Senate will go about negotiating compromises.
- The interview process to choose Haines’ next municipal leader began Monday morning. Local residents Debra Schnabel and Brad Ryan are the two finalists for the borough manager job. They answered questions from borough staff — their potential employees — during the first round of interviews.
- About 30 different organizations and individuals put the fair together, including environmentalists and wildlife advocates.