West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-01 - Appraisal Of Property For Periodic Statewide Reappraisals For Ad Valorem Property Tax Purposes
Table 110-1G - Variables
Universal Citation: 110 WV Code of State Rules 110-1G
Current through Register Vol. XLI, No. 38, September 20, 2024
Annual Industry Production Rate = 6000 MCF
Working Interest = 7/8 of production
Royalty Interest = 1/8 of production
Average Industry Market Price = 2.60/MCF
Average Industry Operating Expenses = $3000
Average Industry Production Decline Rate = 7%
Capitalization Rate = 15%
Gross Income = Working interest production x $2.60
Net Income = Gross Income - Operating Expenses
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