Reeves taxes go way way up

we own some tiny shares of undifferentiated Reeves mineral and land. In the past, our taxes have been well under $50 total. Now that they are drilling more, we are receiving some revenue from our mineral rights so we expected our taxes to go up.but we just recieved notice of the possible taxes and they have gone up to the late hundreds. When I called the tax office, they told me that they are a new accessor and in the past , the valuation was on what moneys were received but now it is on the mineral rights value. Just wonder if anyone else has had this shock and what they are doing.

Well, if it's like what happened to us last year, we had two tax bills: land value (schools) and minerals produced. Land value went up some but it wasn't too bad. The minerals produced tax was a shock but we were told to wait and let the oil company that is producing fight that one, which they did and it came down by more than 50%. They significantly overvalued our mineral royalties estimated again this year, too, , but the oil company also has to pay on their production so it's in their interest to get it lowered, which also was then reflected on ours last year and i suspect will be for this year too. Hope that helps.

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