Not sure how this works...Oil company leases a plot of land from a farmer on which to place a well or other facility. Doesn't the farmer still pay taxes on the land? Does the municipality collect additional taxes from the oil company? If that's the case, and the oil company fails to pay the "extra" tax, the municipality looses out on an "extra" tax levy, right? How is the county loosing out? It's the same as it was before there was an oil well there.
What am I missing?
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