Tax on minerals

[wade_caldwell]

This thread may help.

You have to fill out the protest form timely.

Texas Property Tax on Producing Wells & Minerals

Texas counties are about to send out the 2020 property valuations for producing minerals and wells. Valuations are based on average prices in 2019, production volumes, decline curves and estimated well life on January 1, 2020. Generally the taxes due have been around 3% of annual income. This will certainly not be the case where prices have fallen so precipitously and many wells are being shut-in or having the production choked back. The state of Texas General Land Office (GLO) is allowing w…