Home > Gas Drilling > Focus Groups > Assessment and Land Valuation Subcommittee:

Purpose of Subcommittee: 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 compulsory integration.
Chair: Carol Chock

Assessment and Land Valuation Subcommittee Outline of Concerns (November 26, 2011)

RESIDENTIAL MORTGAGE LENDING:

White Paper of March 24, 2011 "Gas and Oil Leases Impact on Residential Lending"

White Paper Summary as revised November 15, 2011: "Gas and Oil Leases as they Relate to Residential Lending"

Subcommittee Letter to Governor Cuomo of April 27, 2011 Requesting Information Regarding Agency Jurisdiction

Subcommittee Press Release of May 31, 2011: (County Work Group Urges State to Address Gas Drilling's Effects on Real Estate)

Interview: The Capitol Pressroom with Susan Arbetter, WCNY: Interview-Carol Chock and Greg May (June 1, 2011) Capital Pressroom Article

New York Times Article - "Rush to Drill for Natrual Gas Creates Conflicts with Mortgages", by Ian Urbina (November 20, 2011)

Carol Chock, Chair - Oral Testimony to DEC (November 17, 2011)

NY Times Article - Officials Push for Clarity on Oil and Gas Leases (November 25, 2011)

NYS Bar Association Journal "Homeowners and Gas Drilling Leases: Boon or Bust?" by Elizabeth Radow (November/December 2011)

Suggested Real Estate Comments on dsGEIS (November, 2011)

Suggested Bank and Lender Comments - Residential Mortgage Lending and the SGEIS (November, 2011)

NYS TAXATION POLICY
Taxes and Drilling: Revenue Potential for Municipal Governments? (Carol Chock and Don Barber April 21, 2012)

White Paper on Taxation Issues Related to Gas Drilling (February 2012)

Gas Drilling, Production, and the Assessment Cycle: Timeline Graphic (February 2012)

NY State ORPTS Formula to determine Gas Formation Unit of Production Value (UPV)(February 12, 2012)

Subcommittee Press Release of February 24, 2012: "Tompkins County Work Group Urges State to Address Taxation Issues Related to Gas Drilling"

NYS ORPTS Manual for Tax Valuation and Assessment Related to Oil and Gas Production

NYSAC (New York State Association of Counties): "Resolution Calling on New York State to Implement Taxation Policies Related to Natural Gas Extraction that Maintains and Improves Revenues to Counties and Local Municipalities (Fall, 2011)

Tompkins County Resolution: "Resolution Urging New York State to Develop a Blend of Revenue Streams from and Other Taxation of Natural Gas Extraction and to Establish an Accurate, Transparent, and Verifiable Method of Measuring and Reporting Shale Gas Production" (May 15, 2012)

PowerPoint Presentation: Taxation Issues Related to Gas Drilling in New York State, Carol Chock and Don Barber (March 22, 2012)

ADDITIONAL SUBCOMMITTEE DOCUMENTS:
4-Carol Chock: Compulsory Integration (November 14, 2011)

Written Comments to the NYSDEC rsGEIS - Carol Chock, Chair (November 29, 2011)

Economic Development Considerations of Gas Drilling - Requests presented to New York State (May 24, 2011)

Navigating the DEC dSGEIS Comment Process (November 2011)

PowerPoint Presentation by Carol Chock - Impact of Gas Drilling on Local Governments and Community Life" (December 7, 2011)

PRIOR TOPICS:
Deed recording deficiencies, Current well locations in Tompkins County, coordination with mapping group, lending/valuation updates.
State and local tax policy Further development of lending, secondary market, title insurance, and appraisal issues.
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
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.
Measurement of gas output: company-reported vs. verified, state policy and practice (Don Barber)
Identification and mapping of leased properties: Use of data by Tompkins County, creation of the tcgas map, data verification and updating issues
12/20/10    
Scope of work, Long term Land Values/Carrying Costs, Commercial/Industrial Assessment 101 by Jay Franklin