Property Tax Assessments

Recently, we have each received tax re-appraisal of our properties. According to the Lee County assessor's office, our valuation has gone up a whopping 50% over the past 3 years. There is a part of me that feels this is good; however, it is not realistic and will result in a high tax bill by year's end. We have a narrow window of opportunity to appeal (March 15), but the rules for appealing are strict. This is made worse by the fact that there are no sales in the area for the past 3 years. If everyone appeals in a like manner, it will improve our chances of a favorable ruling.

Mineral Rights

Many property owners have received a call from John Murawski of the News/Observer. He is reporter developing an article on Lee county rural properties whose owners do not have mineral rights. This includes all of the Riverbend community owners. A link to current and prior articles and others are located below.
February 16, 2013
November 18,2011
Huffington Post Feb 9, 2013
Reuter's Feb 8, 2013

To complete your own search of the related issues, click this link for a Google search. There are hundreds of important posts/articles on this issue. The title transfer to us is recorded separately from the mineral and natural gas deeds. Our property mineral rights were bought from Weyerhauser in 1975 by Dan Butler. In 2010 He leased all of the 2,691 acres of mineral rights he owns in Lee County to Whitmar Exploration Co., a Colorado fracking operation. Each of our properties has different mineral deeds and these are recorded separately from our purchase deeds.

Gas exploration on our property and nearby properties is an emotionally charged and highly political issue. Property owners have little protection as the law currently is written. After March 2015 the fracking moratorium is lifted. As noted in an earlier post, if a property owner applies for a mortgage and is denied because of the "split estate" the mineral rights revert to the owner.