Gas Industry Fuels County Coffers

For likely the first time ever, tax revenues from Garfield County's booming natural gas industry made up the bulk of the county's assessed value — more than monster second-homes, hotels, resorts, and shopping areas combined.Natural gas values made up 55 percent of the county's assessed value in 2005, up from 45 percent the previous year. The increase has brought $16 million more in revenues to county coffers and taxing districts, from $70.7 million in 2004 to $86.7 million last year, a 23 percent increase. Garfield County own revenues increased $7.1 million to $24.2 million.

Residential properties made up just 19 percent of the county's assessed value last year, down from 25 percent in 2004. Commercial properties contributed less, too, from 16 percent in 2004 to 14 percent in 2005.

Read the full article in the Mtn. Business Journal

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