Marginal property definition
Marginal property means: (a) with respect to months ending prior to
Marginal property means a property whose average daily production of crude oil (excluding condensate recovered in non- associated production) per well during calendar year 1978 did not exceed the number of barrels shown in the following table for the corresponding average completion depth:
Marginal property means property that suffers from at least one of the following conditions: (1) faulty planning causing deterioration, disuse, or economic dislocation; (2) the subdividing and sale of lots too small and irregular for good use and development; (3) lots laid out without regard to their physical characteristics and surrounding conditions; (4) inadequate streets, open spaces, and utilities; (5) areas that may flood; (6) lower values, damaged investments, and social and economic maladjustment reducing taxpaying capacity to the extent that tax receipts are too low to pay for the public services rendered; (7) lack of use or improper use of areas, resulting in stagnant or unproductive land that could contribute to the public health, safety and welfare; (8) lower population and reduction of proper use of areas causing more decline, and requiring more public money for new public facilities and public services elsewhere; (9) property valuation too low to establish a local improvement district to construct and install streets, walks, sewers, water and other utilities; (10) lands within an industrial area not used for industry but needed for industrial development of the area; and (11) state-acquired tax-forfeited land.