California Code of Regulations
Title 18 - Public Revenues
Division 1 - State Board of Equalization-Property Tax (California Department of Tax and Fee Administration - Timber Yield Tax, See Chapter 11)
Chapter 1 - Valuation Principles and Procedures
Section 27 - Valuation of Possessory Interests for the Production of Hydrocarbons
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) The taxable value of all possessory interests for the production of gas, petroleum, and other hydrocarbon substances from beneath the surface of the earth shall be determined by application of the comparative sales or income approach in the manner prescribed in subsections (e)(1) or (e)(3) of Regulation 21, except as provided in subsection (b) of this regulation.
(b) The taxable value of a possessory interest for the production of hydrocarbon substances from beneath the surface of the earth shall be determined by application of the comparative sales or income approach in the manner prescribed in subsections (f)(1) or (f)(3) of Regulation 21 if:
1. New section
filed 1-19-71; effective thirtieth day thereafter (Register 71, No.
4).
2. Editorial correction deleting footnote filed 7-30-82
(Register 82, No. 31).
3. Change without regulatory effect amending
section and NOTE filed 3-18-2005 pursuant to section
100, title 1, California Code of
Regulations (Register 2005, No. 11).
Note: Authority cited: Section 15606, Government Code. Reference: Sections 107, 107.2 and 107.3, Revenue and Taxation Code.
