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Permalink Reply by danielle on July 4, 2010 at 20:34

I forgot to add this is in shelby county texas...8 miles NW of Timpson

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Permalink Reply by DJG on July 5, 2010 at 3:50

Hey Danielle. Welcome to the site. You might want to joing the Shelby County discussion group and read through some of the older postings.


http://www.gohaynesvilleshale.com/group/shelbycounty

Since that Humprhies (A-280) survey is in NW edges of the county, it might also be useful to join and look through the discussion for Rusk and Panola Counties as well.

Are your minerals currently under lease or are you now being offered a lease?

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Permalink Reply by danielle on July 5, 2010 at 5:23

thank you for the info...No i havent been contacted by anyone to lease them

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Permalink Reply by adubu on July 6, 2010 at 0:48

danielle---If you decide to sell the land you do not have to let the minerals be included in the sell but in the deed you must state that all the minerals are to be reserved this in effect separates the minerals from the surface of the land and then the minerals can stay in your estate for ever under Texas' law. The minerals cost nothing to maintain no taxes no nothing until you lease the minerals or have production--then you will haves taxes on income plus property taxes on apprasied value of production So if you sell the land make sure at closing the deed states that you reserve all minerals this is assume you presently have the minerals and they had not been reserved from previous sell transfer. The Texas law is different from La. law. If you have any question have a reastate attorney run title on your minerals and have attorney review the wording on deed before you close on the sell of the land.

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Permalink Reply by danielle on July 6, 2010 at 5:39

thank you adubu..

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Permalink Reply by adubu on July 6, 2010 at 9:13

GoshDarn --I personally know of no county in Texas that accesses a tax on non producing minerals. I have minerals in 4 east texas counties the unproducing bear no taxes.

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Permalink Reply by adubu on July 6, 2010 at 9:30

GoshDarn---beleive I would fight that all the way to court house I question if legal to put property tax on nonproducing minerals in texas

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Permalink Reply by adubu on July 6, 2010 at 11:17

GoshDarn--producing minerals ie royalty get appraised by each county appraisal district on each well based on production trailing 12 months production and then placed on tax rolls for property taxes and you get tax bill just like on any property including you home that will include school district, county, city, and others if your county or city taxes junior college, hospital district, or what ever they can tax you on. The apprasisal value will change each year again based on production and depletion allow. By the way the tax rolls is how this people who mail you letters wanting to buy your minerals find you. You can purchase a CD from the county apprasial district ( or County Clerks Office) of the current tax roll each year. It has name, decimal interest in each well and your mailing address on a excell spread sheet.

Permalink Reply by Two Dogs, Pirate on July 6, 2010 at 13:24

I hate paying taxes, If they would tax something that is not producing thats BS.

Permalink Reply by adubu on July 6, 2010 at 14:15

GoshDarn-- are you saying you do not pay property tax in La. on any personal property like your home or business---WOW what is source of tax revenue for the towns, schools,etc then in La.??? or you just saying La. does not include royalty as property so no tax other than severence tax.

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Permalink Reply by adubu on July 6, 2010 at 14:48

GoshDarn--I am sure you like me agree we get taxed too much. Yes in Texas the production has severence tax at 7.5% taken out by the operator of gross revenue. There are some well that are classified as "High Cost Tight Gas" that receive reduction of severence tax for 1st 10 years from 1% to the full 7.5% in some wells. The severence tax is in addition to the property tax that varies with location of city and county but avg is about 2% of apprasied value. You are correct Texas has no state income tax and hope it stay that way.

Permalink Reply by danielle on July 6, 2010 at 11:04

okay another question for you guys lol I havent been contacted about leasing..And from spending long hours digging on this site..i see that they are kinda moving my way. Is this a good time to lease or should i just sit back and wait? My husband is a flowback and work for him has really slowed down..so does that mean the market has slowed down also?

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