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2009 SESSION

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SB 1507 Gas wells and related improvements; may be assessed on an annual basis in Buchanan County.

Introduced by: Phillip P. Puckett | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Taxation of gases; Buchanan County.  Provides that gas wells and related improvements may be assessed on an annual basis in Buchanan County subject to the approval of the Board of Supervisors, but requires that gas wells and related improvements be reassessed in the general reassessment of property in the county. The bill also provides that there would be no deduction for expenses for local severance tax purposes in determining the fair market value of gases severed in Buchanan County.


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