Thursday, June 14, 2012 By Aaron Brown
This budget reflects a full recovery from the mining downturn of 2009. Because the IRRRB operates on a three-year average of mining production tax revenues, it is now working with three years of largely robust mining income.
To remind, the mining production tax is what Iron Range mines pay in lieu of local property taxes. The money is then distributed to local units of Range government, mostly for property tax relief, but also for public works projects and programs designed to rehabilitate the Range economy.