Kirby v. Transcontinental Oil Co.

On January 1, 1926, appellee .owned under a mineral lease a seven-eighths interest in all minerals on 1,200 acres of land in Limestone county. It rendered said leasehold interest for state and county taxes for the year 1926 at $1 per acre, which rendition was accepted and approved by the tax assessor and so reported to the commissioners’ court. On July 8, 1926, oil was found on portions of said land, and on October 8, 1926, the commissioners’ court of Limestone county raised the assessed value for taxes on said mineral estate ' from $1,200 to $955,700, and directed the clerk to notify…