West Virginia mineral rights owners see increase in property taxes
Friday, March 6, 2015
The Intelligencer / Wheeling News-Register reports that 23,000 mineral rights owners in West Virginia are facing significantly higher property taxes on the mineral rights they own.
Some residents spoke with members of the Board of Equalization and Review, but they can’t do anything to help them since the property taxes are state law. The State Tax Department can’t do anything, either, but the Legislature can.
The bills recently issued are based on what happened in 2013, as the billing cycle runs two years behind. Property values are determined in part based on reported production numbers supplied by drillers. Landowners received letters stating a 10 percent increase in the value of their minerals, if not more.
Via: The Intelligencer / Wheeling News-Register > Property Tax Hikes for 23,000 West Virginia Mineral Rights Owners
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.