Mining personal property is valued by Thomas Y Pickett & Co. This is contracted out because mine personal property valuation is a very complex and time consuming process. Thomas Y Pickett & Co. has 73 years of experience with mineral valuation.

Some lands owned by mining companies are valued as agricultural lands because they are not currently in production and are used for lease or fee grazing. Lands that are being mined (IE. actual coal pits) are exempt by state statute because of the taxes paid on the minerals themselves. Those lands not used for agricultural purpose or specifically to draw minerals from are valued as industrial lands. The process for valuing industrial lands is much the same as residential, The Market Approach. The industrial land is valued based on comparison sales of other industrial lands. Industrial lands are assessed at 11.5%.

The minerals themselves are assessed at 100% for taxes. The amount of production is reported directly to the state by the owner and the state sets the value for us.