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 City and Borough of Juneau Lands Committee will discuss a proposal to give Indian Point, also known as Auke Cape, back to the Auk'w Kwaan at its Oct. 23 meeting.
- Jeremie Shaun Tinney, 39, was sentenced to 220 days in prison and fined $3,000 for failing to stop for a peace officer, driving while intoxicated, and assault during the Dec. 3, 2016, incident.
- A lawsuit filed in federal court this week seeks to remove the residency requirement for people gathering signatures for state ballot initiatives.
- For the second time in two years, a Skagway political figure has been ordered to pay a fine for incomplete financial disclosures. Assembly hopeful Dan Henry failed to disclose substantial debt on his candidate paperwork. He will still be able to run for office in the upcoming election.