We are looking for a company that helps mineral owners who wish to challenge appraised valuations for ad valorem property taxes on their mineral interests. Any suggestions or recommendations?
Should you find one please let everyone know.
Have you attempted the process yourselves? When I was dealing with the appraiser for CAGI, the first thing they wanted were the most recent actual production results. In our case, they lowered our appraisal by about 23 percent or so after seeing that our actuals did not match up with their projections.
I corresponded with the production company asking if they had protested their assessment. Their tax attorney put me in touch with CAGI. After reviewing our first six month numbers and factoring in the decline rate CAGI reduced our appraisal about 25%. You can protest valuations yourself or have an attorney get involved.
What numbers did you give the Appraiser? Your royalty payment numbers?
The production company’s tax attorney provided all numbers, including mine, to Capitol Appraisal (Trent Johnson). I was given a sign-off form by CAGI indicating agreement with the revised assessment. I could have protested the original appraisal with Reeves County either in person or by a phone conference but went the path of least resistance. The well came online in Nov 2018 and the revised appraisal was based on production numbers were through May 2019. The production decline rate has gone down even more since May but it appears I am stuck with the revised appraisal for this year as I received my Reeves County assessment last week…