TX: Assessors reduce land value by 75% when wells are drilled
Posted September 18, 2010
According to a recent article, staff of the Wise County Central Appraisal District reported that they have they have decreased appraisal values by 75 percent when a gas well sits on the land. One home has gone from a value of $257,330 to $75,240, although some members of the Appraisal District's Review Board with real estate experience said it could not be sold at all. This family's child has been rushed to the emergency room with breathing problems. I agree that no one in their right mind would buy that home.