As many of you know, La Plata County sits on one of the largest natural gas discoveries in the US. It is coal bed methane gas. Approximately 4,000 feet below the surface lies a huge bed of coal that runs from Durango all the way to Albuquerque. Various gas companies are tapping into the methane gas locked inside the coal. La Plata County is easily the largest producer of natural gas in the State.
The benefit of this production is felt by the local taxpayer by a reduction in our local property taxes. This past week Craig Larson, La Plata County's assessor, released figures indicating that 66% of the general county taxes will be paid by the oil and gas industry. Considering the fact that this gas field is estimated to last about 35 to 40 more years, Durango property owners can feel pretty darn good about the future of low property taxes. This is just another benefit of owning Durango real estate.
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