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Farmington-Area Oil And Gas Tax Revenue Still Dropping

fmtn.org

As tax revenue from the Farmington area's oil and gas sector continues its downward trend, the city is relying more heavily on retail and San Juan County is considering budget cuts.

The Farmington Daily Times reports that retail taxes are increasing thanks to Farmington's growing role as a shopping hub. But San Juan County CEO Kim Carpenter says the county has collected only about half of what it did last year in revenue from oil and gas production.

Halliburton, Baker Hughes, ConocoPhillips and other large companies operating in the county laid off local workers this year.

City Manager Rob Mayes says Farmington has seen sizeable retail gains, but he's still concerned about a 29 percent drop in tax revenue from the mining, oil and gas sectors.

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