Often times, mineral assets are either completely omitted or simply mis-coded on their respective tax rolls. It’s usually not intentional or purposeful. IT JUST HAPPENS!
Urban Safety Assessment is very adept at finding these assets and getting the proper coding assigned through the various taxing authorities. We have worked at great length with many taxing entities in the State of Texas and have added MILLIONS of dollars’ worth of assets to the various rolls and have gotten MILLIONS more correctly coded.
This is a very complicated and tedious process and often takes many, many hours of shear, eye-burning research using the most current technologies and software available, as well as numerous websites, many of which are subscription based. Along with the technical research, Urban Safety Assessment also takes a “Boots-on-the-Ground” approach. We will very often find an un-appraised or mis-coded asset when doing physical, on-site well or pipeline inspections.
That being said, a well head does not need to be inside a jurisdictional boundary to be taxable. A well head or lease that may be miles outside of a city’s boundaries, school district boundaries, or other taxing entity, may very well be required to pay taxes in those various jurisdictions. There are many variables that come into play when determining which taxing entities benefit from a well or other mineral asset’s value.
As of the date of this publishing, Urban Safety Assessment has NEVER failed to find omitted or mis-coded assets in a single jurisdiction in which we’ve worked!