To say Karnes City has changed over the past few years is an understatement. The Houston Chronicle conducted an interview with a local farmer who owns the land where ConocoPhillips drilled its first Eagle Ford well.
School districts in the South Texas Eagle Ford Shale region are preparing to send millions back to the state in coming years. Eight local districts were added to the Texas Education Agency’s list of property-wealthy districts.
The reason is skyrocketing property values. In the past two years, property values in the Carrizo Springs district have increased from $441 to $2.5 billion. Cotulla ISD has seen a similar rise. [Read more…]
It’s a nice problem to have. Tax appraised values are rising by hundreds of millions of dollars across South Texas. Our schools will be getting better, but the state’s “Robinhood” provision means they’ll also be sending money elsewhere.
Robstown ISD saw an almost 20 percent increase in values from 2011, from $375.4 million to about $450 million, and London ISD’s preliminary estimate came in 23 percent above 2011, rising from about $233 million to about $287 million.
Those numbers pale in comparison to districts in the heart of the Eagle Ford Shale. Karnes City ISD has seen valuations increase nearly sixfold in the past two years.
Read more at Caller.com