Property Tax — Eagle Ford Shale News

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.

This year Cotulla will pay in a little less than $1 million, but next year the payment could swell to as much as $15 million. The wealth is welcomed, but it comes with a host of other obstacles. Several of the disstricts employees are living in trailers on site because of an Eagle Ford Housing shortage.

Read the full story at fuelfix.com

Gonzales ISD is getting ready for boon in property and sales tax revenues from the boom of Eagle Ford Shale Drilling. The state is making cuts across the board and the education system is being hit hard this time around. Gonzales County, TX, is shielded from the remains of a recession and is benefiting from the Eagle Ford oil boom. Oil and gas development brings jobs, investment, and much needed tax revenues.

While school districts around Texas are wrestling with how to deal with a decrease in foundation funding from the state, Gonzales and neighboring districts are sitting on a gold mine which could greatly offset much of the monetary shortage: the Eagle Ford Shale.

Retired petroleum engineer David Thiede gave a presentation to Gonzales ISD trustees during Tuesday’s budget workshop session and indicated that Gonzales and several surrounding districts stand to reap immense benefits from the explosion in oil and gas exploration resulting from hydraulic fracturing technology.
“Economically, we’re sitting in the sweet spot,” Thiede told the board. He said there are currently some 150 working wells in Gonzales County, but “we could easily end up with 4-5,000 wells in this county.”

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