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Last modified
5/14/2010 8:58:18 AM
Creation date
9/30/2006 10:22:06 PM
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Publications
Year
1990
Title
Western Water Transfers: Public Interest Impacts
CWCB Section
Interstate & Federal
Author
Larry Morandi
Description
Examination of the public interest impacts of western water transfers
Publications - Doc Type
Historical
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<br />Weber's study found that Crowley County farmers who divested themselves of their <br />water rights chose to remain in the area. Eighty-nine percent of those farmers selling large <br />shares of Twin Lakes water stock continued to reside in the county; the comparable figure <br />for sellers of Colorado Canal water stock was 97 percent.32 <br /> <br />Although continuing to live in the rural community, the sellers' revenue was not <br />invested in Crowley County in a way that spurred the economy. Weber concluded that <br />"continued local residency, lack of new business establishment creation, lack of unusual <br />trade at auto agency or home remodelling establishments, and the reported high <br />proportion of proceeds going to debt and taxes--all suggest that that the sale proceeds' <br />economic impact on the economy was vastly less than the product of the number of shares <br />sold multiplied by their selling price:..33 <br /> <br />Weber sees a difficult future for the county once those farmers who sold their water <br />rights pass away. The likely effects may include: <br />o a drop in the total amount of transfer payments to Crowley County; <br />o the relatively high proportion of disposable income presently held by <br />the elders will no longer be available to local merchants, service <br />industries, or to the general tax base; <br />o real estate values will decline as infirmity and death of the elderly <br />bring more houses to the already depressed market; and <br />o tax revenues will drop.34 <br /> <br />The revenue consequences for the county could be especially damaging. Roughly <br />50,000 acres of land have been irrigated in the county; they have been relatively highly <br />valued and taxed accordingly. With loss of irrigation water, the land will revert to grazing <br />or wasteland and will have a much lower tax assessment. The effect of the tax <br /> <br />19 <br />
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