(a) For purposes of assessment of real property, each assessor shall keep a record for each parcel of taxable real property in the assessor's taxing jurisdiction, which shall show the following:

(1) The description of the property;

(2) The name of the true owner or owners, if known;

(3) The value of the land or lot, the value of the improvements, and also the separate value of any interests in real property or improvements thereon assessable as under § 67-5-502(d);

(4) The classification or subclassification and the appropriate percentage rate for purposes of assessment;

(5) The actual assessment that results from the multiplication of the value of the property by the appropriate percentage rate; and

(6) Any other information as may be required by the state board of equalization.

(b) All mineral owners shall be required to identify their mineral interests with the property assessor in the county in which the interest is located. The mineral owner shall provide a deed reference number for the mineral interest and shall specify where that mineral estate lies, citing tax maps and parcel numbers for the owner or owners of surface above the mineral estate. All property registered and identified sufficiently to the property assessor on July 1, 1987, and on which taxes have been paid through the current tax year on July 1, 1987, shall not be required to register again. Property shall be deemed to have been identified sufficiently, if and only if, it has been identified to the property assessor by the mineral owner in at least one (1) of these three (3) ways:

(1) By map and parcel number of the surface owners above the mineral estate;

(2) By providing to the property assessor reliable and accurate maps showing the location of the mineral interest in relation to the surface estates, which maps shall be kept on file in the property assessor's office. The property assessor shall use those maps to identify the surface owners above the mineral interest; or

(3) By providing the names of the surface owners and enough additional information so that the property assessor can identify on the property assessor's maps the location of the mineral interest. The property assessor shall keep the names and information on file and shall use the information to identify on the property assessor's maps the location of the mineral interest in relation to the surface estate.

(c) The state board of equalization shall furnish to local property assessors a form for mineral owners to use.