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Conger, MN | North Dakota has an oil and gas gross production tax that is imposed instead of property taxes on oil and gas producing properties. A 5% rate is applied to gross value of the oil/gas produced at the well level.
If nothing is produced, then there is no tax to pay.
And, if there is oil or gas that is drawn from property, the tax is paid by the company extracting the resource, not the owners of the mineral rights. (Often the mineral rights are divided between dozens if not hundreds of owners.)
Thus . . . the OP is not going to lose his mineral rights by not paying taxes on them. | |
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Mineral rights in Williams and Divide County ND
