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Kansas Statutes Chapter 79. Taxation § 79-201t. Property exempt from taxation; oil leases

Current as of January 01, 2025 | Updated by Findlaw Staff

The following described property, to the extent herein specified, shall be and is hereby exempt from all property or ad valorem taxes levied under the laws of the state of Kansas:

(a) All oil leases, other than royalty interests therein, the average daily production from which is three barrels or less per producing well, or five barrels or less per producing well which has a completion depth of 2,000 feet or more.

(b) The provisions of this section shall apply to all taxable years commencing after December 31, 1997.

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Cite this article: FindLaw.com - Kansas Statutes Chapter 79. Taxation § 79-201t. Property exempt from taxation; oil leases - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-79-taxation/ks-st-sect-79-201t/

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