Gas Drilling and Real Estate, Taxing Questions Discussed

9/27/2012 (Updated 11:00:11 PM)

On Thursday night residents in Vestal packed the Public Library.
   
They were there to hear from 2 experts about the impact gas drilling will have on a homeowner's property value and ability to get a mortgage.

"Homeowner's in the community need to be certain that before we start drilling that our government officials make certain that when gas companies come into New York to drill that they're fully covering gas drilling operations."  said Elizabeth Radow, of Radow Law PLLC.

We also spoke to a local attorney who says that gas companies do offer homeowners some legal protection 

"Typically under most oil and gas leases there's additional coverage that's provided by insurance companies or oil and gas companies, often millions of dollars in additional coverage, indemnification from the company so they indemnify you from any claims, there are insurance companies that will provide coverage if you want coverage."  said Scott Kurkowski, Attorney for the Joint Landowners Coalition of New York.

There's still much a lot of speculation as to when Governor Cuomo will announce the decision on where gas drilling could be allowed.