Does $12.4 million sound a little low for 2016 taxable valuations of well heads, storage tanks, separators, lift compressors, gathering & flow lines, etc. for
ALL of Tarrant county’s CHESAPEAKE frack sites?
YOU FRACKING BETCHA!!!
—-In Texas persons who repair, restore, remodel, or maintain tangible personal property belonging to another are providing taxable services.
per our comptroller per this 2010 pdf….
“Generally, if the well servicing activity is performed on the oil and gas producing formation, the activity is subject to the Miscellaneous Gross Receipts Tax. If the activity is performed inside the casing of the well, or on equipment at the well site, the activity is subject to the Limited Sales, Excise and Use Tax. Some activities are not subject to either tax. This manual contains information concerning sales tax.”
In looking at exemptions for Rule 3.292 and pondering how the oil & gas fossil fueling climate change and weather patterns affect us, I saw that TAXES are due when FIXN’ storm damaged tangible (moveable) personal property if there is no disaster declaration….hmmnn
(1) Labor to repair, restore, remodel, or maintain tangible personal property is exempt if: (A) the amount of the charge for labor is separately itemized; and (B) the repair is to property damaged within a disaster area by the condition that caused the area to be declared a disaster area. (2) The exemption does not apply to tangible personal property transferred as part of the repair. (3) In this subsection, “disaster area” means: (A) an area declared a disaster area by the Governor of Texas under Government Code, Chapter 418; or (B) an area declared a disaster area by the President of the United States under 42 United States Code, §5141.
What are examples of Tangible Fracking Related Property?…….
So who really cares if the frackers fixing fracker’s fracked up moveable tangible property is subject to tax if a fracking related climate changing storm hit them and the gub-nor doesn’t declare the event as a disaster? Well what is it’s value and is it under or over valued?
Here is Chesapeake’s TARRANT COUNTY wide Tangible personal (moveable-not fixed) property tax valuations valued at $12.4 MILLION. This is tax valuations due for MOVEABLE support tangible property to support one thousand plus GASWELLS (as of 2012) here in Tarrant county… does that amount seem low or high?
In popping in one of these various industrial tax accounts the depreciation?/drops in valuation from year to year is quite astonishing given that these moveable support tangible properties are supposed to be here for decades. At this rate…they won’t be paying taxes on this in the future anyways….but we as a society will be in terms of climate change & health deterioration in co-existing with industrialized mining sites in our neighborhoods…
Just for kicks you can view here at this link to see what is taxable activities in detail …
NOW lets talk about Real Property on the frack sites……
Real property is the land and it’s building/permanent fixtures.
Tarrant County Tax office must be referring to the padsite’s land/permanent fixtures (REAL property) tax valuations as a “COMMERCIAL” category.
Here is ARLINGTON’s Chesapeake city wide TAD snap shots as queried….
This first one is under the dropdown box of Chesapeake “COMMERCIAL” which is REAL property that includes LAND and its buildings/attachments …