County Tax Collector-Assessor Betsy Price threw some cold water today on anyone who was hoping all that Barnett Shale natural gas drilling could lead to a cut in the county's property tax rate.
Taxable revenue from about 16,000 mineral accounts in the county added $4.98 million to the county’s tax rolls in 2007, she said, constituting about 1 percent of the county’s tax base. Another 10,000 accounts are expected this year, she said.
“It really is not the pot of gold at the end of the rainbow for taxes,” Price said in a presentation to county commissioners. “The backbone of property (taxes) is always going to be real property.”
The whole slide show is here(the good stuff is on pages 20-26). You can also watch the video of her giving the presentation this morning here. (skip to the 1 hour, 35 minutes mark)
(By the way, have you paid your tax bill on your royalties? Price said about 1,900 mineral accounts are currently delinquent. You only have to pay if you've started receiving royalties. If you don't know if you paid yours off, check with the county's tax office to find out. Call 817-884-1100 or go to www.tarrantcounty.com/eTax.)
1
What a stupid comment. The long term tax revenue is just beginning to be realized. Wonder where her political leanings run? What about all the new development up north, new homes, new retail that is REAL PROPERTY? Are you going to tell me this has not come from the Barnett Shale among other things? Un educated.
Posted by: Texas Appraiser | March 12, 2008 at 10:36 PM
You going to start selling people's
mineral rights on the courthouse
steps Betsy? Just more corruption
opportunities for some, just like the
houses sold. Why is it that some homes
in Tarrant county can rack up 10 years
of overdue taxes and not be sold, but
others, those with any value that is,
can be had with'en 2 years?? Why is it
the same buyers all the time Betsy?
How long can a mineral tax be delinquent
before landmen are all over the court
house steps?
Posted by: | March 13, 2008 at 10:38 AM