R15-4-107. Separately Owned Minerals and Mineral Rights

A. If the ownership of minerals or mineral rights in land is different from the ownership of the surface rights, the assessor shall assess any minerals or mineral rights separately from the surface rights. B. The assessor shall value separately owned minerals or mineral rights on a standard amount per acre that is annually determined by the Department unless: 1. There are known mineral reserves, 2. There is a current mineral lease on the property, or 3. There is a reasonable basis for believing that the value of the mineral rights or the minerals located on the property exceeds the standard amount per acre determined by the Department.