![]() ![]() It is an interest in a portion of the underground gas reservoir which may, and usually does, extend far beyond the boundaries of the lot upon which the home sits.The mineral interest is completely separate from the home.The value of a mineral interest is not included in the value of the home.Is the value of my mineral interest included in the value of my home for property taxes? Why or why not? The Tarrant County Tax Assessor-Collector’s office bills and collects the taxes following the Appraisal District’s completion and certification of the appraisals.Tarrant Appraisal District contracts with Pritchard & Abbott, Inc., an expert in oil and gas property appraisal, to assist the Appraisal District in its responsibilities.The Appraisal District is responsible for determining the existence of taxable gas units, the names and addresses of owners of interests in the units, the value of the interests, and exemptions that apply to interests.Who is responsible for imposing property taxes on my mineral interest? The first tax bill for the interest should be sent in early October of that year.Mineral interests become taxable on January 1 of the year following the first production of the unit.When do mineral interests become taxable? #Real options valuation in oil and gas code#
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |