Texas Royalty Council. Property Appraisals. Statute & Appraisals not Aligned.

What’s happening with appraisals of royalty owners? The Texas Royalty Council is communicating “a potential oil price miscalculation that could lead to royalty owners being over-appraised”

What calculation may be leading to a miscalculation of appraisals? A statewide appraisal services use an index that includes the price of West Texas intermediate crude oil.

Why does the Royalty Council say the use of the price of West Texas intermediate crude oil is contrary to Texas statutes? The Royalty Council opinion is that apparaisal, to be consistent with statutes, must use an average of actual sale prices, not the West Texas intermediate crude reference price

Longview News Journal | Texas Royalty Council red flags oil property appraisals