OIL GAS REVENUE u HOW IS REVENUE Property

OIL & GAS REVENUE u HOW IS REVENUE Property. RAISED Tax Assessment. Ø State & County Assessment Ø Federal Mineral Leasing

OIL & GAS REVENUE HOW MUCH REVENUE IS RAISED u Property Tax Assessment Ø State Property Assessment Ø County Property Assessment Ø Total $1, 019, 831, 820 u Oil & Gas Assessed Valuation in Garfield Ø $ 259, 832, 000 u Property Tax Collected Ø For Oil & Gas only Ø $12, 515, 617 Collected in Garfield County

OIL & GAS REVENUE u HOW IS REVENUE RAISED Federal Mineral Leasing Ø From Colorado Public Lands $125, 683, 568 Ø To State of Colorado $62, 841, 784

DISTRIBUTION OF REVENUE $125, 683, 568 Federal Mineral Taxes Collected in Colorado in 2003

DISTRIBUTION OF REVENUE $125, 683, 568 Federal Mineral Taxes Collected in Colorado in 2003

DISTRIBUTION OF REVENUE

DISTRIBUTION OF REVENUE $62, 841, 784 Federal Mineral Taxes Collected in Colorado in 2003

DISTRIBUTION OF REVENUE $62, 841, 784 Federal Mineral Taxes Collected in Colorado in 2003

DISTRIBUTION OF REVENUE $5, 252, 460 Federal Mineral Taxes Counties Portion

DISTRIBUTION OF REVENUE $62, 841, 784 Federal Mineral Taxes Counties Portion

DISTRIBUTION OF REVENUE $62, 841, 784 Federal Mineral Taxes Counties Portion

OIL & GAS REVENUE FACT u Total assessed and exempt valuation of Garfield County is $1, 019, 831, 820. u Assessed valuation on oil & gas in Garfield County is $259, 832, 000.

DISTRIBUTION OF REVENUE $12, 515, 617 Property Tax Distribution

DISTRIBUTION OF REVENUE $12, 515, 617 Property Tax Distribution

DISTRIBUTION OF REVENUE $3, 115, 917 Garfield County’s Portion

DISTRIBUTION OF REVENUE $3, 115, 917 Garfield County’s Portion

OIL & GAS REVENUE REVIEW u Federal Mineral Leasing Revenue $1, 332, 000 u Property Tax on Oil & Gas Total $3, 115, 917 u Total Revenue to Garfield County $4, 447, 917

DISTRIBUTION OF REVENUE $4, 447, 917 Oil & Gas Contributions

OIL & GAS REVENUE WHAT IF u Garfield County receives a $12 M increase or greater from oil & gas through the above process? u County government revenues would be approximately $2. 8 M. u However, increase in revenue would amount to 22. 2%.

OIL & GAS REVENUE HOWEVER u Statutory Requirement Ø Defines any revenue exceeding 5. 5% must go to capital. Ø Garfield County revenue of $2. 8 M must divert $2. 1 M to capital. Ø Leaving $700, 000 for general and other funds.

OIL & GAS REVENUE INFORMATION GATHERED FROM u Garfield County Treasurer 2003 year end report. u Garfield County Assessor 2003 Abstract. u Colorado Department of Local Affairs Annual Report. u Colorado Revised Statutes