And how much tax revenue would be lost to 'the children' and 'the publik skools'?
Maybe the feds found out there is oil under there! Can't have Joe Citizen making oil in money now can we?!
I don't know about the taxes. That's based on property value, not acreage. If the assessors "determine" that this doesn't cause a decline in value, then none.
Oil in the new "lakebed", unlikely, but the kind of thing that makes lawyers rich.