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Las Animas County, Colo., is cooking with natural gas property tax revenues.
Byline: Mike Garrett
Dec. 12--TRINIDAD, Colo. -- Las Animas County is no stranger to boom-and-bust cycles.
So, is the region preparing for the eventual end of the current natural gas boom which has more than doubled the county's assessed valuation?
As of August, the total assessed valuation of Las Animas County was $416.6 million, compared to $204 million in 2001.
The natural gas industry now accounts for 70 percent of the county's property tax revenues, an increase of more than 20 percent over the past four years. This year the county has issued an all-time high of 301 well drilling permits to three companies now engaged in active natural gas production in the Raton Basin -- Pioneer Natural Resources, XTO Energy Corp. and Petrogulf Corp.
Nobody questions how significant the economic benefits have been to an area that had been one of the state's poorest regions after the coal mines shut down prior to 1995.
Industry analysts and officials like Bob Eales, service…
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Source: HighBeam Research, Las Animas County, Colo., is cooking with natural gas property tax...
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