*1 ‘7S8 OFFICE OF THE ATTORNEY GENERAL OF TEXAS

AUSTIN

Boaorabl* I. Pr~dedd

County Auditar, Calreaton r:ountty

Calraeton, Texae

Deer stir

oplnlon Fio. 01a3eb

Est Texeblllty of dated b%ay 13, 1940,

or thle hmrtmaat on oh0

faotor in arri

to ba placed o

that you had beetle fottltary 83, 1939, ty Attorney Of Bra- eerrrlag the t aluo of tha inat the lease owmr regsa-6 pajmrsnf ml&h% be OutrCend- *2 759 the oll paywnt should equal tha fair market tmlue of~tb full leaoehold astote, usually a V/8 working iaterast, w&n aoneldered aa bea ire% and olear of any oil payx~nt. It IS our opinion that tha o~inloa in the &uin-

tan% oam OOWWB YOU?? queetlbn, and that ar? outrtandm oil paynmzt .should be assaaaed againut the oil paysmat ror the r&m datermlmd by tha tax.assaaeor bolder under the statutes to be Ita, taxable value, end that tha lease owner shmld be am@eSaed by tha tsx a8mmor ior the +&MI of tha full leasehold eststo, which 18 usually a 718 working interest less #e reltta d~terrfnra to bo valua oi t&e oil paptbnf or oil pay?Wtt# the taable payable out ol the leasehold l atat6.

iie are snoloain~ lmrer-ilth oopy or the opinion ia the Quufntam Ga.116.

Tru#tln~ that this f5atlsfnotorily anmwera

yciuz roqueat, we am

Yours reTy truly ATrOmm (r;IEAFERBL w 9!lims