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PTLG Table of Contents > Property Tax Annotations > M > 590.0000 MINES AND MINERALS > 590.0002

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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590.0000 MINES AND MINERALS

Annotation 590.0002

590.0002 Appraisal of Oil Producing Property Encumbered by a Lease. A procedure to estimate the economic life of an oil producing property is contrary to Property Tax Rules 2(a), 8(c) and 8(d) where royalty payments are deducted from the cash flow because the resulting value of such property reflects the encumbrance of the royalty agreement under the lease. C 4/11/1995.