Recent Examples of severance tax from the Web
Buchanan County, which borders both Kentucky and West Virginia, is seeing $150,000 to $200,000 more in coal severance tax dollars every month compared to the monthly totals a year ago, said Craig Horn, the county administrator.
The revenue Texas gets from severance taxes, land rents and royalty fees on oil and gas production could come in 27 percent higher than previously expected in fiscal 2018 if crude prices stay elevated above $60 a barrel, Fitch Ratings said Thursday.
Currently, the royalty legislation is attached to a House proposal to enact a severance tax on natural gas, which has also been stalled for years.
The state’s education budget, 65 percent of which comes from federal mineral royalties and severance taxes, has been especially hard hit.
The amount of oil and gas severance tax the state expects to collect this year was downgraded by nearly 11 percent; next year’s collections were revised down 20 percent.
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