Drillers pay Ohio counties $141.9M in taxes
Friday, October 11, 2019
Carroll, Columbiana, Harrison, Belmont, Guernsey, Jefferson, Monroe and Noble counties in Ohio received $141.9 million in real estate property taxes from drilling from 2010-2017, according to the report released Wednesday by the Ohio Oil and Gas Association and Energy in Depth.
Kallanish Energy Reported the top three counties benefiting from tax collections during the same period were as follows:
Harrison County — $40.8 million
Carroll County — $34.6 million
Monroe County — $17.2 million
In 2017, the top tax collectors were:
Harrison County — $12.5 million
Carroll County — $8.5 million
Belmont County — $8.0 million
It’s projected the eight Ohio shale counties could collect $200 million to $250 million in property taxes between 2016-2026, said Dan Alfaro of Energy in Depth.
Learn more: Kallanish Energy > Ohio counties get $141.9M in taxes from drillers
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.