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Woods County affirms omitted valuations for three drilling rigs, applies 20% statutory penalty
Summary
At a Woods County meeting, staff presented an omitted-property assessment for three stacked drilling rigs; the board voted to affirm the valuations and apply the statutory 20% penalty after discussion about condition, market comparables and whether the rigs had been scrapped.
Woods County officials voted to affirm omitted property valuations for three drilling rigs and to apply a statutory 20% penalty after staff presented photographs, sales-comparison data and a valuation schedule.
County staff told the board that the rigs in question — identified in the record as Nomad/77 Energy/Patterson rigs (numbers 26, 27 and 28 in staff materials) — were on county property and had been valued for tax-year 2022 using industry valuation schedules. Staff said the appraisal placed the rigs in a stacked/functional-but-depreciated condition and that the county’s assessor had set a per-rig market value used for the omitted assessment.
The issue matters because the rigs were identified in assessor files as removed or…
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