Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Budget topic
No spam. Unsubscribe anytime.
Montezuma County assessor warns $55 million oil-and-gas valuation drop will squeeze next budget
Summary
Assessor Leslie Bogue told commissioners that assessed values fell across most classes except residential, citing a roughly $55 million drop in oil-and-gas assessed value and a projected $876,775 shortfall on the county's proposed budget if revenues hold.
Assessor Leslie Bogue told the Montezuma County Board of County Commissioners on Wednesday that assessed valuations declined across most property classifications for 2026, leaving the county facing a measurable shortfall in revenue.
"Pretty much we had a decline in every classification except residential," Bogue said in her annual report, and she later quantified the loss from oil and gas as "collectively, oil and gas is down $55,000,005.84." She told the board that the lower valuations translate to a projected $876,775 deficit on the budget proposed for the year.
Why it matters: Montezuma County relies heavily on energy-related property taxes in some years. Declines in assessed value — and corresponding property-tax revenue — reduce the county's fiscal flexibility for roads, public safety and other services, forcing officials to consider spending reductions or new revenue sources.
Bogue singled out Kinder Morgan as a notable contributor to the oil-and-gas decline and told commissioners "there's hardly any production left anymore in Montezuma County." She said she had contacted Kinder Morgan to check reports about a longer-term operational change and would update the board when she had more information.
Commissioners pressed for context and possible responses. The chair asked the board and public to consider the reality of budgeting with smaller revenue bases: "If you had to cut 50% of your budget, just your household budget tomorrow, how would you do it?" the chair said, urging the community to understand the constraints county staff face when revenues fall.
Bogue and county staff noted some offsetting items: residential valuations rose, in part from new construction, and staff identified certain capital additions that increase sheriff's-office budget totals next year. Bogue emphasized the county cannot "manufacture" revenue and that budget planning must reflect assessed value trends rather than hopeful assumptions.
What comes next: Bogue said the county will continue to monitor production and tax-revenue receipts and report back to the board; she will provide any confirmation she receives from Kinder Morgan about longer-term operations.
Sources: Remarks by Assessor Leslie Bogue to the Montezuma County Board of County Commissioners during the July 9, 2026 workshop.
