Wednesday, July 25, 2007

Fairbanks Daily News-Miner » Archive » Borough panel fine-tuning tax proposals

Fairbanks Daily News-Miner » Archive » Borough panel fine-tuning tax proposals:

"Should pull-tabs be subject to a proposed area-wide sales tax?

Should newspaper subscriptions?

The Fort Knox gold mine?

The Fairbanks North Star Borough Assembly’s finance committee took up these and other questions at a work session Thursday on two proposals to reduce property taxes.
One proposal, pushed by Borough Mayor Jim Whitaker, is for a 2.5 percent sales tax that would jump to 5 percent in the summer. The other, introduced by Assemblymen Luke Hopkins and Tim Beck, is for a combination sales tax and gross receipts tax.
It turns out that rewriting the borough’s tax system isn’t easy.
There are two different proposals and any number of ways to implement either.
Some of the issues discussed Thursday were policy calls, such as how major taxpayers such as Fort Knox and the Flint Hills refinery should be treated under the new system. Hopkins said it was his intention that both be subject to the gross receipts tax."
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