While Kansas consumers may be enjoying cheap gas at the pumps, the lower prices are hitting some oil-producing counties hard, reports The Wichita Eagle. These counties are being forced to cut spending and increase taxes to make up for the petroleum profit shortfall. Oil and gas property values in the state have fallen by percent this year. And 16 oil and gas-producing counties in Western Kansas have seen their total property values decline by 20 percent.
At one time Kansas had a trust fund in place, setting aside tax dollars to aid struggling counties during a downturn. However, the state legislature halted the program in 2014 and payments from the fund have now ceased.
