(a) Upon every person engaging or continuing within the town in the business of producing for sale, profit or commercial use, any natural resource products, 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, three-fifths of 1%; limestone or sandstone quarried or mined, nine-tenths of 1%; oil, 1.8%; natural gas in excess of the value of $5,000, 1.8%; blast furnace slag, 1.8%; sand, gravel or other mineral product, not quarried or mined, 1.8%; other natural resources, 0.75%. The measure of this tax is the value of the entire production in the town, regardless of the place of sale, or the fact that the delivery may be made to points outside the town.
(b) 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 returned 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 of like quality or character by other taxpayers, which rules the Recorder shall prescribe.
(Ord. passed 6-30-1971; Ord. 1990-05, passed 6-12-1990)