County, districts must pay back natural gas company

March 5, 2018

GLENWOOD SPRINGS, Colo. (AP) — As a result of an error in natural gas company Encana’s own reporting, Garfield County, along with Colorado Mountain College and several school, fire and special taxing districts, will have to return $5.7 million in overpaid property taxes to the oil and gas producer.

The Glenwood Springs Post Independent reports a settlement reached last week by the Board of County Commissioners says the county will have to refund $1.9 million, while local districts, including the Garfield Re-2 and Garfield 16 school districts, CMC and others owe a combined $3.8 million.

The entities also must refund approximately $858,000 in interest, calculated at 1 percent per month, due to Encana. Commissioner Tom Jankovsky agrees the county should cover that amount from its special Oil and Gas Mitigation Fund.

The agreement ends a legal process that began in January 2017.


Information from: Post Independent, http://www.postindependent.com/

Update hourly