Oil production taxes a third of state funding for Eddy County schools

January 31, 2018

About $24.9 million of Eddy County's $84.1 million in state funding for K-12 public schools last year was attributed to state tax revenue generated by extraction operations, per a recent report from the New Mexico Tax Research Institute, a self-described non-partisan tax research group based in Albuquerque.  

Carlsbad received about $14.7 million from the oil and gas industry for its public schools, while Artesia got about $7.7 million and Loving was granted $1.5 million in state funding supported by the industry.

New Mexico State University Carlsbad got $1.3 million from the industry, out of its total $4.2 million in state appropriations.

Further east, Lea County gained $31.5 million in state funds attributed to the oil and gas industry, also about 30 percent of its $106.2 million in state funding for public schools.

Read more on Current-Argus...

<- Go Back

Give Us Your Thoughts