2019 Mineral account values will be available soon on TAD.org. Did you know that some accounts will have a $0 value? Common reasons for this are (1) your ownership interest in the well is very small, (2) the well has very low production, (3) the well is shut-in (not producing), and/or (4) the well is new and has not yet begun production.
If you own minerals that are not producing and have not been leased in the past 3-5 years, you will likely not have accounts for that mineral interest. The only mineral accounts active in TAD’s system are for mineral interests that are actually included in a well whether producing or not.
The “address” listed on a mineral account is the mailing address. We do not have a physical address tied to where a mineral interest originates. It is not uncommon for mineral accounts to have a mailing address that is different from where a mineral interest originates.
If the market value of ALL of your mineral accounts combined is less than $500 in total, your interest should be exempt from property taxes (per Texas Property Code 11.146). This exemption is automatically applied by TAD and there is no need to request it – unless you believe you have received a value notice or tax bill in error.
If you receive a 2019 value notice but sold your property before January 1, 2019, your first step is to notify the operator of the effected gas well (see Mineral Public Contact 2019). If you sold the property after January 1, 2019, you are still responsible for the property tax in 2019 (per Texas Property Tax Code 32.07). Mineral property taxes are not pro-rated at closing and are not insured by title insurance.
Value documentation and answers to Frequently Asked Questions can be found online at Pritchard and Abbott’s website. If you have additional questions or mailing address changes, please contact us directly at [email protected].