Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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Annotation 790.0176

790.0176 New Construction. The addition of new wells to an operating geothermal steam producing property constitutes new construction, as does the addition of the pipeline gathering system and the machinery used in connection therewith. These additions should be considered part of the original appraisal unit and subject to supplemental assessment. Changes in value of the remainder of the property which did not undergo new construction cannot be considered.

Property Tax Rule 468, by its express terms, is limited to oil and gas producing properties. Property Tax Rule 461(d) is applicable when determining declines in value for geothermal properties. C 3/15/1990.