SB 22-026: Oil and Gas Operator Property Tax Procedures

• Assessors must send property tax valuation notices only to the oil and gas operator for leaseholds or lands where the operator has filed required statements.

• The operator's acceptance of the valuation notice does not constitute agreement with the assessed value or obligation to pay taxes on property in which the operator has no ownership interest.

• The well or unit operator is designated as the sole point of contact for all notification, review, audit, protest, abatement, and appeal procedures related to oil and gas property taxation.

• Fractional interest owners' partial interests are not subject to separate valuation by the assessor and must be represented by the well or unit operator.

• Upon written request from the county treasurer, the operator must submit a statement listing all ownership interest holders within 30 days or face a penalty of $100 or the amount of tax due, whichever is less.