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State officials brief lawmakers on oil and gas appraisal methods and severance‑tax structure
Summary
PVD staff described income‑approach methods used to value oil and gas leaseholds and the operator‑rendition schedule that informs local appraisals; the Department of Revenue summarized the severance tax and the statutory credit that lowers the effective excise impact.
Kansas Division of Property Valuation staff and the Department of Revenue secretary briefed the committee on oil and gas valuation methods and on the state severance tax.
Bob Cannon, supervisor in PVD’s Will & Gas group, told the committee oil and gas leaseholds and related personal property are appraised locally as personal property and that PVD publishes an annual oil & gas appraisal guide. Cannon said appraisal commonly uses…
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