The department shall annually determine the valuation of all producing oil, gas and geothermal resource interests in this state in the manner prescribed by this article.

Terms Used In Arizona Laws 42-14102

  • Department: means the department of revenue. See Arizona Laws 42-1001
  • Gas: means :

    (a) Natural gas, including casinghead gas. See Arizona Laws 42-14101

  • Oil: means crude petroleum oil and other hydrocarbons regardless of gravity that are produced at the well in liquid form by ordinary production methods and that are not the result of condensation of gas after it leaves the reservoir. See Arizona Laws 42-14101
  • Valuation: means the full cash value or limited property value that is determined for real or personal property, as applicable. See Arizona Laws 42-11001
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