Iowa Code 458A.18 – Mineral rights taxed separately
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 458A.18
- and: includes the word "or" and the use of the word "or" includes the word "and". See Iowa Code 458A.2
- Gas: means and includes all natural gas and all other fluid hydrocarbons which are produced at the wellhead and not defined in this section as oil. See Iowa Code 458A.2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Oil: means and includes crude petroleum oil and other hydrocarbons regardless of gravity which are produced at the wellhead in liquid form and the liquid hydrocarbons known as distillate or condensate recovered or extracted from gas, other than gas produced in association with oil and commonly known as casinghead gas. See Iowa Code 458A.2
- Owner: means a person, other than a lienholder, having the property right in or title to a motorboat or vessel. See Iowa Code 462A.2
- Owner: means the person who has the right to drill into and produce from a pool and to appropriate the oil or gas that person produces therefrom either for that person or others or for that person and others. See Iowa Code 458A.2
All rights and interests in or to oil, gas, or other minerals underlying land, whether created by or arising under deed, lease, reservation of rights, or otherwise, which rights or interests are owned by any person other than the owner of the land, shall be assessed and taxed separately to the owner of such rights or interests in the same manner as other real estate. The taxes on such rights or interests that are not owned by the owner of the land shall not be a lien on the land.