Aug. 31--A progress report from Visual Lease Services, Inc. has revealed a startling number of oil and gas properties in Grady County that have been omitted from the tax rolls for years.

According to a PowerPoint presentation by the company, VLS has "been successful in discovering omitted oil and gas property in Grady County and all of the oil and gas property in the county, where possible, has been inventoried."

The PowerPoint presentation also included maps of Grady County showing the locations of all inventoried oil and gas properties, as well as maps showing the locations where the company was unable to inventory or take GPS readings because of locked gates. The company will continue to gain access to those sites.

The inventory included oil and gas wells, meters, compressors, pipeline road crossings and above-ground services like launchers, receivers and shut off valves.

The number of meters rendered, or reported, was 496 and the number of inventoried meters was 2,225, with a difference of 1,729 meters omitted.

The number of compressors rendered, or reported, was 234 and the number of inventoried compressors was 339, with a difference of 105 compressors omitted.

Because VLS has been able to inventory previously omitted properties, it will mean a substantial increase in the assessment rolls.

"We're still trying to figure out the owners and who needs to be contacted," said Grady County Assessor Bari Firestone, whose main focus during her campaign against incumbent Phyllis Ray was the number of oil and gas properties that remained untaxed.

While most of the companies contacted have not offered any protests, three companies, whom Firestone was reluctant to name, are protesting.

"We're continuing to work with these three companies," said Firestone. "They're all rigs, and with the increase in oil and gas prices, they have all increased in value. We even had two omitted gas plants."

Firestone switched from a Texas company hired by Ray to Visual Lease Services, Inc. shortly after she was elected in 2007. Local schools and the county footed the $258,000 bill for the company's fee based on the total valuation of each district.

"The schools are really pleased because they have recouped the money they put in," said Firestone.

Also capitalizing are the county health department, emergency management and the county's general fund.

According to Firestone, a 20 percent penalty will be assessed for companies with newly-discovered properties, payable for every year since 2005 that they did not disclose the property.

"We can only go back three years to collect on untaxed properties," said Firestone.

According to Alex School Superintendent Norvel Heston, much of the money will be used to help reduce the district's bond debt.

According to Firestone, the majority of the money will go to the Tuttle, Alex and Ninnekah school districts because most of the omitted properties were located in those districts.

Gary Mask, owner of Visual Lease Services, said fewer than a quarter of Grady County's meters have been taxed. Each of the 2,296 meters in the county is worth from $125 to $150 in taxes, he said.

In addition, the recently discovered oil and gas properties will remain on the tax rolls, resulting in additional benefits for schools and other county entities in the future as well as today.

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