Kerr-McGee Nuclear Corp. v. Property Tax Division

OPINION

HERNANDEZ, Judge.

Appellants, Kerr-McGee Corporation (KM) and Kerr-McGee Nuclear Corporation (Nuclear), protested the 1978 valuation of their respective uranium mining properties and appeal the decision of the Director of the Property Tax Division of the Taxation and Revenue Department (Division). They allege four points of error:

POINT I. Since the Property Tax Code taxes only tangible personal property, the Division erred in taxing certain mine development costs and work-in-progress accounts because they are intangibles.

POINT II. Even assuming that buried unsalvageable materials are…