Oil or gas interest is subject to assessment and taxation as real property. 

Each oil or gas interest shall be assessed annually by the county assessor to the person who owns or operates the interest. Oil or gas interest includes but is not limited to: royalties, overriding royalties, mineral rights, or working interest in any oil or gas located on or beneath the surface of the land - IC 6-1.1-4-12.4.

The assessment date for oil or gas is January 1st and the filing is May 15th each year. If an ad velarium return is not filed by May 15 of each year it would incur a $25 penalty and if the return is over 30 days late it would receive an additional penalty equal to 10% of the taxes due.

Capped Wells

Was your well capped or non-operational before January 1, 2021? If so please contact the Assessor’s office as soon as possible.

Gas & Oil Assessment