2018 Mineral account property value notices are coming soon and will be available on TAD.org through your online account once mailed. Did you know that some accounts will have a $0 value? Common reasons for this are (1) your interest (ownership) 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 we have active in our system are for mineral interest that is actually included in a well (producing or not).
The “address” listed on a mineral account is the mailing address. We do not have physical addresses in our system of where a mineral interest originates from. Many accounts have mailing address that are different from the property where the mineral interest originates from.
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 (see 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 notice or tax bill by mistake.
If you receive a notice but sold your property, your first step is to notify the operator of the gas wells. If you sold the property after January 1, 2018, you are still responsible for the property tax in 2018 (see Texas Property Tax Code 32.07). Mineral property taxes are not pro-rated at closing and are not insured by title insurance.
More information 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 firstname.lastname@example.org.