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Oil & Gas Tax Revenues Pay for Education in Colorado

by Kenneth E. DuBose on October 24, 2011

The Weld County, Colorado, oil & gas industry supports 70% of educational expenses across the state. That’s an impressive number. Weld County has zero debt and the lowest tax rates of any county in the state. Just more support that oil & gas jobs are created and the economy performs well when drilling and production are supported.

Weld County Commissioner Sean Conway, for instance, touts the benefits the oil and gas industry has brought to Weld County.

“The governor has said that 70 percent of all revenue generated for K-12 education across the state is generated in Weld County by the oil and gas industry,” he said. “That’s a huge impact.”

And the benefits are passed along to Weld County taxpayers. ”The mill levy in the county is set just a little over 16 mills, which is considerably lower than the level allowed by the Taxpayers Bill of Rights (TABOR),” Conway said. “We have the 12th best job performance out of all the counties in the United States.”

The boom has also kept Weld County debt free, the only county in Colorado to be so.

“It allows us to have a real competitive business environment, and our residents sure appreciate the extras,” he said.

Read the entire article at coloradoan.com

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