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Oil and Natural Gas Price Escalation
The Comptroller's Revenue Estimating Division has announced its oil and natural gas price increase forecast for the 2000 tax year, as required by Section 23.175, Property Tax Code. The law states that when appraising mineral properties, appraisal districts should use an annual percentage rate of increase not greater than the increase projected for that year by the Comptroller for revenue estimating purposes.

The law further states that "in no event may the price used in the second or any succeeding year of an appraisal exceed 150 percent of the price used in the current year of the appraisal."

Appraisal districts should not use the forecasted oil and natural gas prices indicated in the chart to estimate taxable values. Section 23.175 requires districts to use the 1999 average product price for each individual property as the base price for 2000. The escalation forecast is used in the appraisal process in projecting future income.

Year Statewide
Taxable
Crude Oil
$/ BBL		 Percent
Change		 Statewide
Taxable
Natural Gas
$ / MCF		 Percent
Change
2000 18.86 ---- 2.08 ----
2001 17.71 -6.10% 2.12 1.92%
2002 17.51 -1.13% 2.16 1.89%
2003 18.13 3.54% 2.20 1.85%
2004 18.76 3.47% 2.24 1.82%
2005 19.42 3.52% 2.28 1.79%
2006 20.10 3.50% 2.32 1.75%
2007 20.80 3.48% 2.37 2.16%
2008 21.53 3.51% 2.42 2.11%
2009 22.28 3.48% 2.47 2.07%
2010 23.06 3.50% 2.53 2.43%
2011 23.87 3.51% 2.58 1.98%
2012 24.70 3.48% 2.64 2.33%
2013 25.57 3.52% 2.70 2.27%
2014 26.46 3.48% 2.76 2.22%
2015 27.39 3.51% 2.82 2.17%
2016 28.35 3.50% 2.89 2.48%
2017 29.34 3.49% 2.96 2.42%
2018 30.37 3.51% 3.02 2.03%
2019 31.43 3.49% 3.09 2.32%
2020 32.53 3.50% 3.16 2.27%