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.
- The Alaska Native Science and Engineering Program has proposed turning the 70-year-old boarding school into an accelerated high school. Some members of the Edgecumbe community aren't happy about that.
- Nora Edith Thomas is charged with two counts of second degree murder for the death of Christopher Kenney.
- The House passed a resolution that limits committees to working on bills that raise or spend state revenue. House Democrats raised concerns that the rule change would reduce transparency.
- The Juneau School District is facing a sixth year of budget cuts, and it’s handling the budget process a little differently than it has in recent years.