Hi ,
I recently got a back taxes notice for some mineral rights that I am part owner of in Greenbrier District, Doddridge county . L&B Development purchase the rights during an auction. Over the years, this property has paid out at most $15.00 to $20.0 a year with most years paying nothing. I am trying to decide whether it is worth paying the back taxes ($800) or just letting it go. Thanks to anybody that might have any input on this issue in advance.
Regards
Gary
Hard to say. If they drill a horizontal well your first check might be $800 per acre with smaller checks coming in for the next decade. No guarantees but I think the odds of coming out ahead are better than buying $800 worth of scratch offs. I suggest you go to the Doddridge county group and read up. Look under where it says groups near the top of the page.
Gary, I agree 100% with R W Kennedy, who is very well informed. Depending upon how many mineral acres you own, IMO, paying the back taxes is a small price to keep what you have. Why do you think L&B bought the rights? They obviously thought it was an inexpensive investment. So do I. As I have stated elsewhere on this forum, never sell (or forgo) mineral rights unless you absolutely have to. Period.
Good Luck,
Tom Senter