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.)
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