Marshall County assessed property values double in six years - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Marshall County assessed property values double in six years

Posted: Updated:
  • EnergyEnergyMore>>

  • Fracking foes cringe as unions back drilling boom

    Fracking foes cringe as unions back drilling boom

    Monday, April 21 2014 8:51 AM EDT2014-04-21 12:51:19 GMT
    After early complaints that out-of-state firms got the most jobs, some local construction trade workers and union members in Pennsylvania, Ohio and West Virginia say they're now benefiting in a big way from the Marcellus and Utica Shale oil and gas boom.That vocal support from blue-collar workers complicates efforts by environmentalists to limit the drilling process known as fracking.
    After early complaints that out-of-state firms got the most jobs, some local construction trade workers and union members in Pennsylvania, Ohio and West Virginia say they're now benefiting in a big way from the Marcellus and Utica Shale oil and gas boom.That vocal support from blue-collar workers complicates efforts by environmentalists to limit the drilling process known as fracking.
  • Engineering, mineral resources program makes connections

    Engineering, mineral resources program makes connections

    Saturday, April 19 2014 9:00 AM EDT2014-04-19 13:00:16 GMT
    The Statler College of Engineering and Mineral Resources at West Virginia University is wrapping up a year of connecting hands-on activities to elementary, middle and high school students.
    The Statler College of Engineering and Mineral Resources at West Virginia University is wrapping up a year of connecting hands-on activities to elementary, middle and high school students.
  • WV Waterborne coal traffic down

    WV Waterborne coal traffic down

    Saturday, April 19 2014 9:00 AM EDT2014-04-19 13:00:15 GMT
    The amount of coal moved on waterways in West Virginia was down in the first quarter of this year, continuing a long-term trend. 
    The amount of coal moved on waterways in West Virginia was down in the first quarter of this year, continuing a long-term trend. 

Due primarily to activity in the oil and gas and coal industries, the assessed value of property in Marshall County has increased by almost 50 percent in two years and doubled since 2007.

Marshall County Assessor Chris Kessler will provide the county commission with preliminary assessed value totals for each class of property in Marshall County for the 2013 tax year. That meeting will take place Jan. 29 when the commission sits at its initial meeting as the Board of Review and Equalization, Kessler said Jan. 24 in a news release.

The assessed values of real and personal property in the county have increased by $577.2 million, excluding the public utility values, most of which Kessler said can be attributed to growth in the natural gas industry as well as to activities of the coal, chemical and power industries in the county.

Total taxable assessed value of all property in Marshall County is anticipated to be approximately $2.7 billion, a $913 million increase over the last two years.

With tax-exempt property added, Kessler said, Marshall County will have a total assessed value of slightly less than $3 billion — double the value in 2007.

"This type of increase can only be described as extraordinary and is the result of new investment in the county," Kessler said.

The greatest impacts on increased assessed values and potential property tax revenues in 2013 are related to several specific activities, Kessler said.

One is the natural gas processing and fractionation facilities such as those built by Williams Partners — formerly Caiman Energy — MarkWest Liberty Midstream and Dominion Resources. These facilities separate the wet gas products ethane, propane, butane and pentanes from methane.

New wells under construction as of the July 1 assessment date each year also result in increased personal property tax revenues because the drilling rigs and equipment are assessed to the contractors doing the work.

In addition, the pipeline network that transports gas from the well to processing facilities continues to grow and is being assessed.

Finally, royalty payments to individuals are now more common, along with the income being realized by the producers such as Chesapeake Energy, Chevron, Trans Energy, CNX, Gastar and others are increasing with production.

With regard to coal, investments made by Consol Energy at its mines and coal preparation plants also contributed to the increase in assessed values in the county, Kessler said.

"If there is a war on coal, the strength of Marshall County's coal industry and Consol's willingness to invest in its operations in the county seem to speak otherwise," he said. "I can't speak to possible impending regulatory constraints, but hopefully, Consol's markets and overall industry economics remain strong moving forward."

Growth in assessed values in the gas industry is expected to continue as new pipelines are put in place, gas processing and fractionation plants expand, and construction of the Dominion fractionation plant at Natrium is completed.