Upon every person engaging or continuing within this City in the business of producing for sale, profit or commercial use any natural resource product, the amount of such tax shall be equal to the value of the articles produced, as shown by the gross proceeds derived from the sale thereof by the producer, except as otherwise provided, multiplied by the respective rates as follows: coal, one percent; limestone or sandstone quarried or mined, one and one-half percent; oil, three percent; natural gas in excess of a value of five thousand dollars, six percent; blast furnace slag, three percent; sand, gravel or other mineral product, not quarried or mined, three percent; other natural resources, two percent. The measure of this tax is the value of the entire production in this City, regardless of the place of sale, or the fact that the delivery may be made to points outside the City.
A person exercising privileges taxable under the other sections in this article, producing timber or other natural resource products, the production of which is taxable under this section, and using or consuming the same in this business, shall be deemed to be engaged in the business of producing natural resource products for sale, profit or commercial use, and shall be required to make returns on account of the production of the business showing the gross proceeds or equivalent in accordance with uniform and equitable rules for determining the value upon which such privilege tax shall be levied, corresponding as nearly as possible to the gross proceeds from the sale of similar products or like quality or character by other taxpayers, which rules the Director of Finance shall prescribe.
(Ord. 95-17. Passed 6-15-95.)