"In WV, I have seen a few more permits issued per week than last year when there was almost nothing. Depends on the county. I view that as somewhat encouraging. Hope others have more news/information."
"I'm glad it was a help. Others have helped me over the years.
If you learn something when talking with your county assessor that you think might help others, please share.
I'm somewhat curious about your hypothetical situation. The fee…"
"Yes you will have to pay the county property tax on whatever the assessed value of that amount of mineral rights is determined to be, by that formula that they use. Your acreage times your ownership amount. It sounds like your example retains 100%…"
"I guess you mean property taxes on the actual rights as opposed to income tax on your royalty payment.
The property taxes are collected by the counties. They assess the mineral rights by a formula which differs if there is any production (of oil…"
"You would have to read the assignment documents to see what was assigned/conveyed/sold and what was retained/excluded. I have seen the "whole" lease assigned with the deeper rights retained, and just the shallow wells sold, and sometimes…"
Welcome to GoMarcellusShale.com. I hope this is a site where you can dive in and begin contributing. Please be sure to check out our county groups and see if there is a county you can participate in. Have fun "shaling."
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]