Oil and Gas Properties are Personal Property – K.S.A. 79-329
Includes leases and wells producing or capable of producing oil or gas in paying quantities, together with all casing, tubing or other materials therein, and all other equipment and material used in the operating the wells.
Valuation and Assessment of Oil and Gas Properties – K.S.A. 79-330
In valuing for taxation, oil and gas properties consisting of one or more leases and oil and gas wells there shall, in addition to the value of all oil or gas well material in or upon the leasehold properties, be made such valuation of the oil or gas wells as would make a reasonable and fair value of the whole property.
Determination of Value – K.S.A. 79-331
County appraisers are required to determine the value of oil and gas leases and/or properties.