Mining personal property is valued by Pickett & Co Inc, a Texas based company, that started valuating industrial properties in 1926.
Some lands within the mine permit boundary are valued as agricultural lands because they are not currently in production and are used for lease or fee grazing. Lands that are currently being mined (i.e. actual coal pits) are exempt by state statute because of the taxes paid on the minerals themselves. Lands not used for agricultural purpose or specifically being mined for coal, are valued as industrial lands. The process for valuing industrial lands is much the same as residential, the market approach. The industrial land value is based on comparison sales of other industrial lands are assessed at 11.5%.
Mineral production is assessed at 100% for taxes. The amount of production is reported directly to the state by the producer/owner and the state certifies the value to the assessor.