Ruling boosts value of oil pipeline

Posted: Thursday, May 27, 2010

FAIRBANKS - A judge's ruling that the trans-Alaska pipeline was worth more than double what the state estimated four years ago could send $5 million in oil company property taxes to Fairbanks.

The pipeline's proper value was fought over during a six-week trial last year involving the Fairbanks borough, the city of Valdez, the North Slope Borough, the state of Alaska and the oil companies that own the pipeline.

The state set the value at $4.2 billion for 2006, but a Superior Court judge determined the pipeline was worth $9.9 billion.

Because the pipeline passes through the Fairbanks borough, property taxes due to the borough for that year will increase proportionately.

A trial concerning the pipeline's value in 2007, 2008 and 2009 is scheduled for late 2011.

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