Nobody Understands WV’s Oil & NatGas Property Tax Valuation Change

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Complete confusion continues with respect to West Virginia's House Bill (HB) 2581, a new law passed on the last day of the annual WV legislative session in April. HB 2581 changes how the State Tax Department values producing oil and gas wells for property tax purposes (see WV Passes Bill to Change O&G Well Valuations for Taxes). The bill was supposed to streamline and provide a fairer system for assessing taxes on oil and gas production. It seems to have done the opposite, creating a complex system that is currently mired in controversy with both drillers and landowners confused about how much of a tax bill they will owe next year.

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