{"data":{"id":"us-ky/krs-132.820","jurisdiction":"us-ky","citation":"KRS 132.820","heading":"Assessment of unmined coal, oil, and gas reserves held separately from","body":"surface real property -- Exceptions -- Effect of appeal on payment of taxes.\n(1) The department shall value and assess unmined coal, oil, and gas reserves, and any\nother mineral or energy resources which are owned, leased, or otherwise controlled\nseparately from the surface real property at no more than fair market value in place,\nconsidering all relevant circumstances. Unmined coal, oil, and gas reserves and\nother mineral or energy  resources shall in all cases be valued and assessed by the\nDepartment of Revenue as a distinct interest in real property, separate and apart\nfrom the surface real estate unless:\n(a) The unmined coal, oil, and gas reserves, and other mineral or energy resources\nare owned in their entirety by the surface owner;\n(b) The surface owner is neither engaged in the severance, extraction, processing,\nor leasing of mineral or other energy resources nor is he an affiliate of a\nperson who engages in those activities; and\n(c) The surface is being used by the surface owner primarily for the purpose of\nraising for sale agricultural crops, including planted and managed timberland,\nor livestock or poultry.\nFor purposes of this section, \"affiliate\" means a person who directl y or indirectly\nowns or controls, is owned or controlled by, or is under common ownership or\ncontrol with, another individual, partnership, committee, association, corporation,\nor any other organization or group of persons.\n(2) Each owner or lessee of prop erty assessed under subsection (1) of this section shall\nannually, between January 1 and April 15, file a return with the department in a\nform as the department may prescribe. Other individuals or corporations having\nknowledge of the property defined in su bsection (1) of this section gained through\ncontracting, extracting, or similar means may also be required by the department to\nfile a return.\n(3) Any property subject to assessment by the department under subsection (1) of this\nsection which has not been listed for taxation, for any year in which it is taxable, by\nApril 15 of that year shall be omitted property.\n(4) After the valuation of unmined minerals or other energy sources has been finally\nfixed by the department, the department shall certify to the county clerk of each\ncounty the amount liable for county, city, or district taxation. The report shall be\nfiled by the county clerk in his office, and shall be certified by the county clerk to\nthe proper collecting officer of the county, city, or taxing district for collection.\n(5) The notification, protest, and appeal of assessments under subsection (1) of this\nsection shall be made pursuant to the provisions of KRS Chapter 131.\n(6) No appeal shall delay the collection or payment of taxes based upon the as sessment\nin controversy. The taxpayer shall pay all state, county, and district taxes due on the\nvaluation which the taxpayer claims as the true value as stated in the protest filed\nunder KRS 131.110. When the valuation is finally determined upon appeal, t he\ntaxpayer shall be billed for any additional tax and interest at the tax interest rate as\ndefined in KRS 131.010(6), from the date the tax would have become due if no\nappeal had been taken. The provisions of KRS 134.015(6) shall apply to the tax bill.\n(7) The collection of tax bills generated from the assessments made under subsection\n(1) of this section shall be made pursuant to the provisions of KRS Chapter 134.","path":["KRS Chapter 132"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28325","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:24Z","sha256":"022a0830a71923b1d069ea475e3117fb73b3fb23fda8dd61342d08b5f0abd7fe","source_id":"us-ky","stale":false,"prev":"us-ky/krs-132.815","next":"us-ky/krs-132.825"},"notice":"GroundRules: Original legal text. Not legal advice."}