Monday, March 3, 2014

DLGF Publishes Addendum Regarding Assessments of Oil And Gas interests and Equipment


TO:                 Assessing Officials, Vendors

FROM:           Barry Wood, Assessment Division Director

RE:                  Addendum to: 50 IAC 1-3-1 (STB Directive 78-101 - Real Property) - Assessments of Oil and Gas

DATE:            March 3, 2014

The Department of Local Government Finance has adopted the following values to be utilized for the assessment of real estate interests and equipment used to produce petroleum products for the March 1, 2014 assessment date.

For the purpose of assessing the real estate interests in oil or gas, in conformity with the provisions of Indiana Code 6-1.1-4-12.4 and IC 6-1.1-4-12.6, the following values shall be utilized in completing the Form G & O - 1 for the assessment date March 1, 2014.

                        Crude Oil, at wellhead                         $95.50/bbl
                        Natural Gas, at wellhead                      $4.645/mcf
                        Equipment (appurtenances)                 $6,980 per well

If you have any questions, please contact Barry Wood at or (317)232-3762.