Logan County Tax Assessor Shannon Cotton said last week county residents may notice something new on their personal property tax statements this year.
Individual mineral rights are being assessed differently than they have been in the past in the county, Cotton said.
According to Arkansas State law, “when the mineral rights in any land shall, by conveyance or otherwise, be held by one or more persons, and the fee simple in the land by one or more persons, it shall be the duty of the county assessor when advised of the fact, either by personal notice or recording of the deeds in the office of the county recorder, to assess the mineral rights in the lands separate from the general property therein.”
“Through the diligent efforts of the Logan County Assessor’s Office the percentage of ownership has been researched so that each owner with interest above the minimum amount is assessed as correctly as possible,” Cotton said last week in a new release.
Cotton adds that those whose interest falls below the minimum should not see a change in their tax statement.
Guidelines for mineral valuations are provided to Cotton’s office by the Arkansas Assessment Coordination Division each year. Anyone wishing to view the rates can find them on the AACD website at www.arkansasassessment.com
Cotton adds her office is happy to assist any taxpayer with questions or concerns they may have concerning this, or any other assessment matter.
The Booneville and Paris courthouse offices are open from 8 a.m. to 4:30 p.m. on weekdays. The phone numbers are 675-3942 in Booneville and 963-2716 in Paris.