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Property tax payments from Chesapeake Energy

DeSoto Parish will be receiving a property tax payment of $6.6 million dollars from Chesapeake Energy, the company announced Thursday. A total of nearly $14 million in payments will be made to Louisiana Parishes benefiting from natural gas and oil development. Representatives from Chesapeake will begin making presentations at area police jury meetings to formally announce the individual parish totals. The tax payments will be divided according to current property taxes for parish schools, law enforcement, police juries and other taxing authorities in each parish. DeSoto Parishes’ payment is the largest among the 8 Northwest Louisiana parishes receiving payments. Sabine Parishes’ amount is just over a million dollars. With natural gas at decade-low prices, Louisiana is experiencing a renaissance in new commercial and industrial construction activity, particularly in the synthetic fuel and chemical industries. The Louisiana Department of Economic Development is forecasting the location of up to a dozen projects over the next few years that are expected to attract investments of more than $5 billion and create thousands of construction and permanent jobs.

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