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Alaska Administrative Code — Title 15 (Revenue)

15 AAC 56.090

Exploration property

Official textakleg.govlast amended

# (a)

Property used or committed by agreement for use in the exploration for gas or unrefined oil, or in the operation or maintenance of facilities used in the exploration for gas or unrefined oil will be valued on a market value concept which is the estimated price the property would bring in an open market and under the then prevailing market conditions in a sale between a willing seller and a willing buyer both conversant with the property and with prevailing general price levels. Market data including recent sales in the area of like property will be used where there is reliable information available. In the absence of sufficient reliable market data other accepted appraisal techniques will be applied.

# (b)

Exploration property includes but is not limited to land, buildings, facilities, machinery, appliances, supplies, equipment, and materials used in the operation or maintenance of seismograph and geophysical activities, well service activities, drilling activities and other exploration activities.
(Eff. 3/1/75, Register 53)
Statutory Authority:
Authority:
AS 43.05.080 AS 43.56.060

Amendment history

Eff. 3/1/75, Register 53

Source: official source document (full AAC Title 15 PDF)

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In this chapter (25 sections)
  1. 56.005 · Mandatory property statement
  2. 56.010 · Notice of assessment
  3. 56.015 · Appeal procedures
  4. 56.020 · Appeal to the department
  5. 56.030 · Appeal to the state assessment review board
  6. 56.040 · Hearings of the state assessment review board
  7. 56.042 · Effect of certification
  8. 56.043 · Investigations
  9. 56.045 · Supplementary and amended assessments
  10. 56.047 · Appeal of supplementary and amended assessments
  11. 56.050 · Credit and refund
  12. 56.060 · Method of payment
  13. 56.065 · Payment of tax
  14. 56.066 · Refund claims for overpayment of taxes
  15. 56.068 · Limitation periods
  16. 56.069 · Filing
  17. 56.070 · Average per capita assessed full and true value of property in…
  18. 56.075 · Taxable property
  19. 56.080 · Multiple use property
  20. 56.090 · Exploration property
  21. 56.100 · Production property
  22. 56.110 · Pipeline property
  23. 56.120 · Intangible drilling expenses
  24. 56.130 · Preservation of municipal powers
  25. 56.900 · Definitions
Full table of contents →