Western Colorado county braces for drop in energy tax revenue | VailDaily.com
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Western Colorado county braces for drop in energy tax revenue

GRAND JUNCTION, Colorado ” Garfield County’s total assessed valuation skyrocketed as energy development boomed, but county officials are bracing for a big falloff as the boom contracts.

Energy companies have curtailed operations as the recession has worsened and natural gas prices have plunged. The county anticipates a big drop in revenue in 2011 because of a two-year lag between gas production and the taxes paid on it.

Property tax accounts for a third of the county’s revenue, and two-thirds of that comes from the oil and gas industry. Garfield County budget analyst Theresa Wagenman projects revenue falling from $93.5 million in 2010 to $76.7 million in 2011.



The county in western Colorado has led the state in the number of drilling permits approved.


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