§ 12.55.030. Excise tax on motor fuel.

A.

An excise tax in the amount of ten cents ($0.10) per gallon, adjusted every five years as provided in subsection B., is hereby levied on all motor fuel sold, transferred, brought into or consumed in the municipality. The tax is imposed only once, upon the first taxable event. Motor fuel upon which the tax was imposed is not again subject to the tax in a subsequent sale, transfer or use. The tax is to be paid by the dealer or user to the municipality on the volume of motor fuel sold, transferred, or used.

B.

The five-year adjustment to the motor fuel tax rate shall be based on the cumulative percent change in the Anchorage Consumer Price Index for All Urban Consumers (CPI-U) over the prior five years. The adjustment is the percent change in the Anchorage Consumer Price Index beginning from the August CPI-U report for the municipality from the U.S. Department of Labor, Bureau of Labor Statistics released five years prior, up to the Anchorage Consumer Price Index in the report released in August of the fifth year after the last adjustment. The adjustment to the tax rate may be rounded to the nearest whole cent as determined by the department. The adjustment shall become effective January 1 following the August release date in the fifth year since the last adjustment. The first such adjustment date shall be effective January 1, 2023.

(AO No. 2017-141 , § 1, 3-1-18)