HB 2706
Providing that ad valorem taxes on oil and gas mineral rights shall only be assessed in the county where the property is physically located, regardless of where the well pad is located
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how ad valorem taxes are assessed for oil and gas mineral rights in West Virginia. Currently, taxes might be assessed in the county where a well pad is located, even if the underlying property is in a different county. This bill ensures that taxes are always paid to the county where the property itself is physically situated. This aims to standardize tax collection based on property location rather than well pad location.
Key provisions
- Ad valorem taxes on oil and gas mineral rights must be paid to the county where the property is located.
- The bill establishes a new section (§11-13MM-8A) in the West Virginia Code.
- It clarifies that tax payments should align with property location, not well pad location.
- The bill applies to all oil and gas extraction wells in West Virginia.
Who is affected
- Oil and gas mineral rights owners
- County tax assessors
- Oil and gas companies
- West Virginia counties
Notable changes
- Shifts tax assessment from well pad location to property location.
- Addresses a potential inconsistency in current tax collection practices.
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