F100 owner: do you mean if we had a zero value appraisal last year the county intends to redo those? Our income is significantly lower but appraisal is about the same. Is that grounds for appeal? (I may be missing important parts of this issue. I’ve been a realtor for 35 years and am very familiar with property taxes, but not oil and gas taxes (we don’t have much of that in FL). Thank you in advance for your comments/clarification.
From my visit with the Capitol Appraisal Group representative, they are in the process of reviewing zero valued wells/properties, comparing those values to previous valuations. Some wells deserve to retain zero valuation (for instance three of our seven wells generated no income in the last 2 years and one of the others barely any). They use producer records for assessment. However, if the valuation the CAG/CAD has is higher, your actual earnings for those wells could be used to challenge them. At least I did that successfully two years ago.
If you have zero value wells in 20/21, yet you received revenue from them, I would expect you to receive an updated statement based on my visit the CAG (Capitol Appraisal Group).
I am sure others here know a lot more than I do about this - I still refer to the county assessment on my wells as an income tax (
