Budget cuts loom for Valdez following TAPS assessment
by Tony Gorman
The City of Valdez is poised to make budget cuts after receiving the latest news on the value of the Trans-Alaska Pipeline System. On Wednesday, the State Assessors Review Board valued TAPS at $8.6 billion. That's down from last year's $9.7 billion. The city receives 80 percent of its property taxes from oil-related properties within city limits. Due to the shortfall, $4 million dollars is expected to be cut from this year's budget.
The City of Valdez is poised to make budget cuts after receiving the latest news on the value of the Trans-Alaska Pipeline System. On Wednesday, the State Assessors Review Board valued TAPS at $8.6 billion. That's down from last year's $9.7 billion. The city receives 80 percent of its property taxes from oil-related properties within city limits. Due to the shortfall, $4 million dollars is expected to be cut from this year's budget.
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