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Committee advances bill clarifying valuation of gas wells for county assessors
Summary
Senators advanced House Bill 1937 to clarify that gas wells should be valued for property tax purposes in the same manner as oil wells, aiming to create uniform assessment across counties.
The Senate Revenue and Tax Committee passed House Bill 1937 after a short presentation from Sen. Matt Stone.
Stone, identified in the transcript as “Matt Stone, state senator district 2,” told the committee the bill “will clarify existing law for assessors and taxpayers and agencies on the valuation of gas wells.” He said a previous session clarified taxation of oil wells and that counties are currently taxing gas wells at different rates; this bill would direct assessors to treat gas wells in the same manner as oil wells. Stone said the change is net revenue neutral to the state.
No public testimony was recorded and Stone closed the presentation. The committee took a motion to pass the bill: Senator Crow moved to pass and Senator Hester seconded. A voice vote was called; the chair announced the motion carries and the bill passed out of committee.
