By law, all tangible personal property subject to taxation must be listed and assessed as of January 1st of each year in the name of the owner. Individuals, companies, and corporations that own or have tangible personal property subject to their control on January 1st, must file a Personal Property Rendition with the County Appraiser’s Office on or before March 15th to avoid a penalty. If a taxpayer fails or refuses to file a rendition or, if the rendition filed does not truly represent all the property, the County Appraiser has the duty to investigate, identify, list and value such property in an effort to achieve uniformity and equality. K.S.A. 79-1411(b) and K.S.A. 79-1461.
All oil and gas leases and oil and gas wells, producing or capable of producing oil or gas in paying quantities, together with all casing, tubing or other equipment and materials used in operating oil and gas wells are considered personal property. (K.S.A. 79-329) A list of the current royalty owners, their decimal interest, and their addresses, is to be provided by the operator and is a requirement for filing the tax rendition per the oil and gas guide provided by the State. Oil and gas interests are valued at market value.
We welcome taxpayer questions on all property tax matters during regular business hours 8m-5pm or call 785-543-6810