Where’s your, “Drill, Baby, drill” now?
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 or what?
Some board members said they would neither be able to sell the property, nor even consider listing the property, after hearing the couple’s disclosures, including the fact that they had filed a lawsuit against the company for damages.
“I wouldn’t sell it for $78,000,” said Patsy Slimp, a board member and former real estate agent. “I could not sell this house in a clear conscience.”