42-14106. Separate listing, assessment and taxation If producing oil, gas and geothermal resource interests are owned by a person other than the owner of the land, they shall be listed, the valuation shall be determined and the interests shall be taxed individually as separate parcels of real estate separate from the land.
Arizona Legal Code
§ 42.14106
Source: https://www.azleg.gov/ars/42/14106.htm· Version 2026