Oil and Gas Taxes Helped Texas School Districts in 2014

Posted December 2, 2015 at 6:46am

Fuel Fix reports that “the U.S. shale boom that fueled a drilling frenzy across Texas helped boost the budgets of the state’s public schools last year, according to a new report by North Texans for Natural Gas, a loose coalition of people supporting natural gas development in the Barnett Shale region.”  

“Oil and natural gas development generated $1.5 billion in property tax revenue for Texas schools and another $676 million for the Permanent School Fund, the state’s education endowment for school districts.”  

“In addition, the Foundation School Fund, the primary source of state aid for Texas’ more than 1,000 school districts, grew by more than $1 billion in the 2015 fiscal year from revenues generated by taxes on oil and natural gas production. See some of the school districts that got the biggest checks from oil and gas property taxes in 2014 above.”