Quote:
Originally Posted by dalmations202
Please show me the laws on this one.
I have never seen actual mineral rights taxed. Yes, any increase (ie the oil when it pumped) is taxed, but to just own them is not taxed to my knowledge. I'd love to see the codes there.
And yes, there is a severance fee, and yes the oil/gas is taxed once pumped...I know that, but I have never seen mineral rights taxed.
|
www.texasconstitutionorsomethingsimilar.com
There are counties in W. Texas (Andrews, Yoakum, ...) that have multi-billion dollar property values and it's not because of the 70 or 80 shotgun houses and arid cotton patches in those counties. Ira-ann School District in Pecos Co. has (last I checked) the most property value per student of any school district in Texas because of the assessment on the Yates field.
The richness of property taxes in some of these counties in W. Texas was part of the reason we got Robin Hooded...to get these counties paying more in property taxes that could then be shipped to the State for re-doling.