Received your property tax bill relating to minerals yet?
After reviewing property tax laws, I have some questions about the method used by the Tarrant Appraisal District.
My first thought involved frozen property taxes for seniors. This obviously is an increase in property taxes.
Second, in reviewing the data you find that the tax is calculated within a pool from a larger plat, not just your little residential lot. You should only be assessed on your lot. In most cases, the value will be less then the exempted amount.
Then there is the question of lease agreements. The fact that you have assigned ownership of minerals under your land to another has made the minerals a fee simple determinable to the lessee. The result is that you no longer own the minerals.
Royalty payments are income and not property taxes. Therefore, TAD has erroneously assigned to the property owners a thing of value that is owned by another.
— Michael A. Logan, Fort Worth