A. On or before November 30 of each year the department shall transmit to the respective county assessors the valuation of the oil, gas or geothermal resource interests of each producer for each of the producer's properties in the county as of January 1 of the valuation year.
B. The valuation required by this section is the value determined as of January 1 of the valuation year.
C. After determining the valuation of any producing oil, gas or geothermal resource interest and before certifying the valuation to the county, the department, on the producer's application or on its own motion, may change the valuation to properly reflect the gross yield from the oil, gas or geothermal resource interest.