Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 590.0035

590.0035 Valuation Date. Pursuant to Property Tax Rule 469, the date of valuation of the right to produce minerals is the date such minerals undergo a change in ownership or the date the production of proved mineral reserves commences. Reserves that may not be produced for lack of legally required permits are not assessable unless the owner has started production without appropriate permits. While permits themselves are not assessable property, they may be considered part of the cost of new construction and in valuing the mineral rights when production starts, but shall not be considered for purposes of valuing the right to explore. C 8/5/1996.