# Reeves CAD - 2024 Tax Notice
**URL:** https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312
**Category:** Reeves County, TX
**Created:** [April 22, 2024, 8:57pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312 "2024-04-22T20:57:24Z")
**Posts on this page:** 12
**Page:** 1
### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [April 22, 2024, 8:57pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/1 "2024-04-22T20:57:25Z")
Reeves County CAD has sent out the 2024 tax notices for wells. Be sure to review and look at the CAGI well detail.
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### Author:  [@Kenny\_DuBose](https://www.mineralrightsforum.com/u/Kenny_DuBose)
#### Post date: [April 23, 2024, 5:19pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/2 "2024-04-23T17:19:21Z")
@TennisDaze Thank you for this timely notice. I know this is important for many parties.
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### Author:  [@Charles\_Jones](https://www.mineralrightsforum.com/u/Charles_Jones)
#### Post date: [April 25, 2024, 3:11pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/3 "2024-04-25T15:11:36Z")
Was extremely happy with 13,000 dollar appraisal value reduction. From 52,000 last year to 38,000 this year. I’m concerned now if the entities using that figure to determine their share; will they adjust the decimal point to cinch last year’s? I’m in Block 13 Section 68. My thanks to the forum for the opportunity to share this info with others.
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### Author:  [@f100owner](https://www.mineralrightsforum.com/u/f100owner)
#### Post date: [April 25, 2024, 3:32pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/4 "2024-04-25T15:32:27Z")
Was surprised that overall, our appraisal was down noticeably from previous two years. Two wells went up, but overall lower. Was also surprised to see market value and taxable value to be different with taxable lower. Previously, the two numbers were the same.
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### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [April 25, 2024, 7:15pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/5 "2024-04-25T19:15:15Z")
The CAGI workpapers will provide detail on the determination of value. Valuations are based on the average monthly price of oil and gas during prior year (2023) and applying to declining value. Oil was close to $20 less per month in 2023, as compared to 2022, and gas prices were also down. Appraisal takes into account the rate of decline in production, too. Consider logging into CAGI website and downloading the workpapers for a detailed picture by well (or by RRC lease number). If you save each year, then you can compare prices and other metrics over time.
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### Author:  [@c\_apple](https://www.mineralrightsforum.com/u/c_apple)
#### Post date: [April 25, 2024, 7:43pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/6 "2024-04-25T19:43:27Z")
Very uninformed person asking… what is CAGI
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### Author:  [@Joy\_Roberts](https://www.mineralrightsforum.com/u/Joy_Roberts)
#### Post date: [April 25, 2024, 7:53pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/7 "2024-04-25T19:53:45Z")
I confirmed that CAGI values match Reeves County Appraisal District. Neither party shows wells that came online toward the end of 2023 so I hope that doesn’t mean a supplemental notice later!
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### Author:  [@Joy\_Roberts](https://www.mineralrightsforum.com/u/Joy_Roberts)
#### Post date: [April 25, 2024, 8:02pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/8 "2024-04-25T20:02:30Z")
CAGI is Capitol Appraisal Group who provides mineral appraisals to Reeves County Appraisal District. If you have property in Reeves County (and several others), you should have an account with them. Their website is shown on the Tax Notices.
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### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [April 25, 2024, 11:55pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/9 "2024-04-25T23:55:36Z")
This first round are the producing wells which were taxed in 2023. The new wells which came on-line in 2024 will come in a separate notice. You may also receive notices that well assessments have changed due to information from operator or other factors. You can keep track of this by reviewing the CAGI well list which will show the most recent date of change in value.
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### Author:  [@Joy\_Roberts](https://www.mineralrightsforum.com/u/Joy_Roberts)
#### Post date: [April 26, 2024, 1:17am UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/10 "2024-04-26T01:17:32Z")
Thanks for great info!
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### Author:  [@Roy](https://www.mineralrightsforum.com/u/Roy)
#### Post date: [April 30, 2024, 4:14pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/11 "2024-04-30T16:14:20Z")
I’ve telephoned Capitol Appraisal Group and found their appraisers extremely helpful on the phone. I downloaded the “Work Paper Allocation pdf,” which is a spreadsheet model that shows annual oil and gas production past-present-future, including modeled future production based on a predictive model. This spreadsheet is a classic net present value model; CAGI revises it each year. Yes, you must establish a CAGI account with a password.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [July 21, 2024, 8:57pm UTC](https://www.mineralrightsforum.com/t/reeves-cad-2024-tax-notice/75312/12 "2024-07-21T20:57:38Z")
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