I am trying to find out the approximate fair market value or lease value of mineral rights in 2005 for some land in Yoakum County. The land is located on the West 1/2 of Section 385, Block D, John H. Gibson Survey, Yoakum County, Texas.
Any help in this matter would be appreciated.
Thanks.
Dennis, I sent you a friend request. I can help you out.
Was it producing at that time? If so, maybe consider the appraised tax value or if it is a small interest, maybe 3 times cash collected that year or something like that.
If it was nonproducing minerals, inherited at that time, the value would be on the estate tax return if one was filed, but I have typically seen nonproducing minerals valued at $10 or some other nominal amount if not producing…
Good luck
Dear Dennis. You need to get a copy of a good dictionary…mineral…are mineral…and I am are trying to find out…Wuz you educated in Oakland or in that city of Detroit there Andy…LOL
That is the Arkansas spelling 
That was a good comeback Dennis. Thanks for the laugh!
Are you trying to sell your minerals?
No. We recently sold them. Trying to determine, for tax purposes, what they were worth when we inherited them in 2005.