I just got a tax bill on the mineral rights involved in Hadley 8H as usual. But I also got another set of bills on leased production. Way way more money. Anyone know if this is normal? Thanks Steve
Sounds like severance tax. If so, it should be 5% of your royalty.
The tax bills are from Tyler County Sheriff. One is for minerals. Gross value 3300 and tax is 75.00 and change. The other is also from the Sheriff, it says Production leased swn api 0231 Kirk Hadley 8H. Minerals , value 37,360 and tax of 822.94. I got one and my wife got one also. It is jointly owned but SWN sends us each separate check. So were at over 1600.00 in taxes. Seems like a lot based on royalties received.
I found out this is a Tyler Co. tax. Based on reported production in 2014. Problem is, I never received the money Statoil should have paid me. Apparently they are in a 74/26% deal with SWN. What a mess. Also can anyone tell me what my fractional share should be. I have 100 acres of 1220 acres in unit. @ 12.5 rate. Think I am being paid from old division order of which I had 10.51 acres of 578.