Section 11-1A-11 - Valuation of certain classes or species of property; reserve coal properties; oil producing properties; gas producing properties; timberland; active mining mineral interest; commercial real property and industrial land; commercial and industrial furniture, fixtures, machinery and equipment; intangible personal property; public utility property; vehicles, watercraft and aircraftOn or before the first day of September, one thousand nine hundred eighty-three, the tax commissioner shall propose a legislative rule for submission to the Legislature pursuant to the provisions of article three, chapter twenty-nine-a of this code, which rule shall describe in detail the methods whereby the tax commissioner will determine the market value, during the first statewide reappraisal, of the following property:
(1) Active and reserve coal properties;(2) Oil producing properties;(3) Gas producing properties;(5) Active mining mineral interests including limestone, fireclay, dolomite, sandstone and other actively mined minerals;(6) Commercial real property and industrial land;(7) Commercial and industrial furniture, fixtures, machinery and equipment;(8) Intangible personal property, including stock, accounts receivable and stocks in banks and capital of savings and loan associations;(9) Public utility property; and(10) Vehicles, watercraft and aircraft.