Survey Topic — Mineral Property

Description

By statute and case law, mineral properties are taxable as real property and are subject to the same laws and appraisal methodology as all real property in the state. However, there are three property tax rules that specifically apply to the assessment of mineral properties. They are Rule 468, Oil and Gas Producing Properties, Rule 469, Mining Properties, and Rule 473, Geothermal Properties. These rules are interpretations of existing statutes and case law with respect to the assessment of mineral properties.

A detailed discussion regarding the assessment of mineral property can be found in Assessors' Handbook Section 560, Assessment of Mining Properties (AH 560), and Assessors' Handbook Section 566, Assessment of Petroleum Properties (AH 566).