Natural gas drilling causes 75% property value loss
Drilling can dig into land value
Saturday, September 18, 2010, By Peggy Heinkel-Wolfe
One year to the day after a company set up its drilling rigs on their land in eastern Wise County, Tim and Christine Ruggiero confirmed the depth of their loss.
Originally on the 2010 tax rolls for $257,330, their home and 10-acre horse property are now worth $75,240.
Is this the American Dream gone wrong, or what? I thought the Republican Party was all about personal property rights? Which will it be: Property Rights or Drill, Baby, drill? Because you can't have both with a Split Estate.
Read More