I am are trying to find out the approximate fair market value or lease value of Mineral Rights in 2005 for some land in Yoakum county. The land is located on the West 1/2 of Section 385, Block D. John H. Gibson Survey, Yoakum County, Texas.
Any help in this matter would be appreciated.
Thanks
Dennis Taff
Dennis, I sent you a friend request. I can help you out.
Was it producing at that time? If so maybe consider the appraised tax value or if it is a small interest, maybe 3 times cash collected that year or something like that.
If it was non producing minerals, inherited at that time, the value would be on the estate tax return if one was filed, but I have typically seen non producing minerals valued at $10 or some other nominal amount if not producing...
Good luck
Dear Dennis. You need to get a copy of a good dixshunnerry....minral...are mineral...and I am are trying to find out...Wuz you edumacted in Oakland or in dat city of Detroit dere Andy...LOL
That is the Arkansas spelling:)
That was a good comeback Dennis. Thanks for the laugh! :)
Are you trying to sell your minerals?
No. we recently sold them. Trying to determine, for tax purposes, what they worth when we inherited them in 2005.