SB 22-026

Senate Bill 22-026 changes how property tax notices for oil and gas wells are handled in Colorado. Under the new law, only the operator of a wellsite or the owner who has filed a required statement with the assessor will receive notifications about property taxes and handle any related issues like appeals or protests on behalf of all owners who have an interest in that well. This means fractional interest owners won't get their own separate notices or be able to directly contest the valuation themselves. The bill has been signed into law, so these changes are now in effect.

Official Summary

Current law requires a county property tax assessor to send a notice of valuation of personal property to the operator of each wellsite, or if there is no operator, to the owner who has filed a statutorily required statement with the assessor. The act: States that oil and gas fractional interest owners are not entitled to separate valuation, notification, review, audit, protest, abatement, or appeal procedures by the assessor; and Designates the operator of each wellsite, or if there is no operator, the owner who filed the statement, as the representative of all fractional interest owners and as the exclusive point of contact for the assessor for all notification, review, audit, protest, abatement, and appeal procedures.(Note: This summary applies to this bill as enacted.)

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