Sell Your Mineral Rights in Ward County
The Mineral Auction is a mineral rights brokerage that helps people sell mineral rights on gas and oil royalties. If you have mineral rights on your property, you may be considering selling those rights. However, it is easy to be taken advantage of in this business. To make sure that you broker the best possible deal for your land, you need the help of trusted advisors who will advocate for your best interests. The Mineral Auction is here to assist residents of Ward County with all aspects of selling their mineral rights.
The Mineral Auction has a pre-qualified network of thousands of interested buyers who compete on the open market to give you the best prices for your mineral rights. You can sell some or all of your available mineral rights, which will lower your tax burden, provide additional income, and maximize the opportunities available from your land. Call The Mineral Auction today at (512) 698-2802 to schedule a free initial consultation so we can discuss how we can help with your mineral rights sales.
Texas Mineral Rights Laws
Under the Texas Property Code §11, mineral rights are to be taxed on their fair market value. However, if your mineral rights have a value of less than $500, you may be entitled to an exemption, which means that you will not be taxed on that ownership interest. This can make selling your mineral rights an extremely advantageous tax move.
Once mineral interests go into production, they become taxable the following year. These units must be appraised by the county appraisal district, which gathers all necessary information about the interested parties, values, and taxable interests/exemptions. These calculations can be complicated and confusing, which is all the more reason to have a team you can trust handle all of the legal details of your mineral rights. The experienced team at The Mineral Auction can assess the tax implications of your particular situation and review findings from the county appraisal district so that you can make the best decision about your property.
How to Determine the Value of Your Mineral Rights
Estimating the value of your mineral rights is incredibly complicated, which is why we recommend you have the professionals at The Mineral Auction assist you in the process. The Mineral Auction will not only ensure you get fair market value, but they will help you attain the top dollar that your rights are worth.
We understand that you probably want to have an idea of what your rights may be worth before making a call. Here are rules of thumb in determining the value of your unsold mineral rights:
Find existing offers. If you and a family member have identical mineral rights, and theirs have either sold or have an active offer, this is the best way to judge the worth of your rights. However, beware of unrealistic offers, which are often made just to get a seller’s attention and are subsequently reduced during negotiations. If an offer sounds too good to be true, it probably is.
Take outside factors into account. Once you do your research on existing offers, there are other factors to consider that can increase or decrease the value of your rights, including but not limited to:
- Number of wells drilled
- Number of wells in operation
- Past and current production
- Production in adjacent land
- Pipeline or other infrastructure
- Current oil and gas prices
- Limiting clauses
- Active and expired permits
- Surrounding permits and activity
Texas Property Code §23.175. This provides standard guidelines for oil, gas, and mineral interest appraisals. According to the code, the average price of the property from the preceding year is multiplied by a price adjustment factor. However, if there are no existing wells or the existing wells have not been under production in more than one month, the average price is then calculating using data from comparable properties. Appraisal value can affect the overall sales value of your rights but are not necessarily the final determination of what your rights may be worth.
These are only some of the factors that can affect the value of your rights. If this seems overwhelming, it is. This is why achieving a proper valuation before you enter into any negotiations on your own is critical. At The Mineral Auction, we always advise our clients to leave negotiations to experienced mineral rights brokers who are dedicated to getting the best prices for clients.
Ward County Appraisal District & Tax Assessor-Collector
Appraisal districts are in charge of determining property values within their proximity. The Ward County appraisal district will apply the Texas state laws to your holdings to estimate your taxes, special exemptions, and other evaluations. Once a complete assessment is complete, the Ward County Appraisal District will turn their findings over to the Ward County Tax Assessor, who will bill and collect subsequent taxes.
The Ward County Appraisal District covers:
- Ward County
- Grandfalls-Royalty ISD
- Monahans-Wickett-Pyote ISD
- Pecos-Barstow-Toyah ISD
- City of Grandfalls
- City of Monahans
- City of Wickett
- Ward County WD #2
If you wish to reach out to the Ward County Appraisal District or Tax Assessor, here is their contact information:
Ward County Appraisal District (Physical Address)
808 S. Betty Street
Monahans, TX 79756-5020
Ward County Appraisal District (Mailing Address)
P.O. Box 905
Monahans, TX 79756-0905
Ward County Tax Assessor-Collector
400 S Allen Suite 201
Monahans, TX 79756
(432) 943-2546 or (432) 943-2547
You may find that these offices are tough to reach and that the information they provide is confusing. For example, many people do not understand that their mineral rights are not appraised or included with the value of their home. Details such as these are areas that the Appraisal District or Tax Assessor may assume you already understand, and they may not clearly explain them. To avoid simple mistakes like these that can result in major complications, allow professionals to guide you through the mineral right sales process. Please do not hesitate to contact The Mineral Auction at any time for assistance and legal advice.
Railroad Commission of Texas
The Railroad Commission (RRC) of Texas has jurisdiction over the oil and gas industry in the state. The agency is responsible for preventing waste, protecting ownership rights, regulating pollution, and providing safety regulations. The RRC operates a variety of divisions which grant drilling permits, conduct inspections, run testing programs, and monitor operations throughout nine districts within the state.
Ward County is located in RRC District 8, with offices in Midland. You can reach the RRC District 8 office at:
Railroad Commission of Texas, District 8
10 Desta Drive, Suite 500
Midland, TX 79705
The RRC also manages alternative fuels, with this office located in District 2, and can be reached at:
Railroad Commission of Texas, Alternative Fuels District 2
10 Desta Drive, Suite 500
Midland, TX 79705
Contact The Mineral Auction Today
If you own mineral rights in Ward County that you are interested in selling, you need the help of a professional brokerage. The valuation, negotiation, and sale of mineral rights is a full-time job, which is why our team of career mineral rights brokers are the best at what they do. The brokers at The Mineral Auction are committed to conducting successful transactions for clients so they can reap the benefits of their mineral rights.
As our team conducts the sale of your mineral rights, we keep your privacy in mind so that you are comfortable with all aspects of the transaction. When we go to auction, we aggressively price your rights and often set minimum bid prices. The auctions conducted by the team at The Mineral Auction are the best way for you to achieve maximum revenue for your mineral rights now and into the future.
Today’s mineral rights sales are an aggressive business, which is why you should be wary of any offers that come your way without a careful, second opinion. At The Mineral Auction, we are always happy to review offers you receive for your mineral rights. If we feel an offer is better than you may receive at auction, we will certainly let you know.
Know your rights and your options before you go to market with your mineral rights. This is essential for success in the mineral rights business. The Mineral Auction is always here to discuss your options with you and help you get the highest price available for your mineral rights. Call us today at (512) 698-2802 to get the process started so that you can get the fair value you deserve for your mineral rights. Our mineral rights auctions are held regularly across Texas and throughout the country, with thousands of successful transactions conducted for our satisfied clients. When you choose The Mineral Auction, you can rest assured that you will be treated with the respect you deserve.