I was wondering if you are a Mineral Rights Owner does Nebraska charge any sort of tax to Mineral Right Owners for owning the mineral Rights and not the land?
I just found out that Colorado does and in Colorado if you do not pay the Tax it can be offered back to the land owner for the price of the back tax's.
Can someone shed some light on this??
Thanks
Bruce
In Colorado they will list the mineral interest for tax lien sale once it has gone delinquent from the previous year. The tax lien on the interest is for sale for any bidder, not just the surface owner. However, you are only buying a tax lien, and not the actual property itself. You have to hold that lien for 3 years before it may be redeemed to acquire the interest. There is alot more to it than that, but that is a short summary.
Here is what I found out about Nebraska. Apparently they are supposed to be valuing / taxing all mineral interests, producing or not, severed or not. In Kansas they have been using a "county-by-county" approach so some counties tax and others do not. http://www.sos.ne.gov/rules-and-regs/regsearch/Rules/Revenue_Dept_of/Title-350/Chapter-13.pdf