Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2016
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0890 Working Interests and Royalties. Upon the transfer of the right to extract oil and gas, the entire interest (working interest and royalty) should be revalued at market value as of the date of the transfer. The transfer of a royalty interest alone, however, does not give rise to a reappraisal of the mineral rights. LTA 1/27/1981 (No. 81/15).