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Friday, February 7, 2014

Does Drilling Activity Drive Area Property Values Down?

From The Intelligencer/Wheeling News-Register:
The assessed values of real and personal property in Marshall County increased by $158.2 million for the 2014 tax year - though it could have been significantly more, according to Marshall County Assessor Chris Kessler.
The preliminary Assessed Value Totals for each class of property in the county were provided by Kessler to the County Commission, sitting at its meetings as a Board of Review and Equalization, on Tuesday.
The figure does not include public utility values which have yet to be provided by the State Tax Department, Kessler said.
"The $158.2 million is on top of an extraordinary $605 million increase for 2013, and a $335 million increase for 2012, most of which can be attributed to growth in the natural gas industry in the county related to the Marcellus Shale and the status of the coal, chemical and power industries in the county," Kessler said. "Once the public utility values are provided by the State Tax Department, the total assessed values of all property in Marshall County it is anticipated the total will be approximately $2.9 billion."
You can click here to read the rest of the article.

It's not uncommon to hear anti-drillers state that property values are destroyed by gas drilling.  Marshall County is one example of that being false.

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