Nearly 200 people packed Grand Vue Park on Thursday evening for an Oil & Gas Town Hall meeting about “Understanding The County Tax Assessment on Your Royalties.” The meeting was hosted by the National Association of Royalty Owners (NARO) and Gold, Khourey & Turak.
This is the first of several “Fuel Yourself With Knowledge” series Oil and Gas Town Halls over the next several months in an effort to help land and mineral owners understand their oil and gas rights.
People do not always realize that mineral rights and mineral interest that they own are taxable for property tax purposes. When they started receiving royalty payments, they knew they had to pay a federal income tax on the income, and a state income tax, but they didn’t always realize that the mineral rights and royalties they receive are taxable for property tax purposes also
Chris Kessler, Marshall County Assessor
Take a Look at the News Coverage of the Event:
Upcoming NARO Appalachia Education Series Events
Understanding Gas & Oil Tax Reporting
February 21, 2019 (6-8pm) – Wheeling Island, Wheeling WV
Negotiating Right of Way and Pipelines on Your Property
March 27, 2019 (6-8pm) – The Mollohan Center, New Martinsville WV
How is Gas Processed?
April 17, 2019 (6-8pm) – Sistersville VFD, Sistersville WV
Selling Your Minerals
May 16, 2019 (6-8pm) – Doddridge County Park, West Union WV