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Assessment and Land Valuation Subcommittee:

Purpose of Workgroup: Assist Tompkins County and its towns/municipalities to prepare for potential impacts if NYS approves high-volume horizontal gas drilling. Explore effects on land values, property assessment, the tax base, and financing. Explore related issues including verifying measurement of gas output, splitting of subsurface rights, and agricultural exemptions. Chair: Carol Chock

New York State Bar Association Journal
"Homeowners and Gas Drilling Leases: Boon or Bust?"

Subcommittee Press Release of May 31, 2011:(County Work Group Urges State to Address Gas Drilling's Effects on Real Estate)
New York Times Article of October 20, 2011 (Rush to Drill for Natural Gas Creates Conflicts with Mortgages)
New York Times Article of November 25, 2011 (Officials Push for Clarity on Oil and Gas Leases)

The Capitol Pressroom, WCNY: Interview-Carol Chock and Greg May (6/1/2011)

Capital Pressroom Article

MINUTES:   April 25, 2011 March 21, 2011 February 28, 2011 January 24, 2011 December 20, 2010 July 11, 2011  

SUBCOMMITTEE DOCUMENTS White Paper: Taxation and Drilling 2-2012 Subcommittee Comments to DEC Carol Chock Testimony to DEC - 11-17-2011 Taxation & Drilling Cycle Timeline NYS ORPS Formula to determine Assesed Value of Gas Subcommittee Concerns 11-26-2011 Suggested Real Estate Comments on dSGEIS Lender Letter - Residential Mortgage Lending and sGEIS Navigating the DEC dsGEIS Comment Process Requests to NYS White Paper 11-15-11 Residential Lending Cuomo Letter

NYSAC Resolution
Manual for Valuation and Assessment

Prior Topics:
6/20/11: Deed recording deficiencies, Current well locations in Tompkins County, coordination with mapping group, lending/valuation updates.
5/18/11    Visit to Albany Outline of requests*, issues and presentation of materials.
4/25/11    State and local tax policy Further development of lending, secondary market, title insurance, and appraisal issues.
3/21/11     Gas Lease impact on residential mortgage lending, focus points on secondary market and title insurance implications, strategy to inform other banks, lawyers, realtors, appraisers, Albany
2/28/11     Lending Practice Questions: Financing as it affects property valuation with gas leases, title, secondary market, subsurface rights, title and liability insurance. Deed records: Lease and subsequent memoranda data, need for more complete information and a local or state clearinghouse for information. Real Estate Market Impact. Appraisal Issues, current impact, anticipated future direction, obtaining lease information.
1/24/11      A) Measurement of gas output: company-reported vs. verified, state policy and practice (Don Barber)
                   B) Identification and mapping of leased properties: Use of data by Tompkins County, creation of the tcgas map, data verification and updating issues (Bill Podulka) 12/20/10     Scope of work, Long term Land Values/Carrying Costs, Commercial/Industrial Assessment 101 by Jay Franklin