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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-34-3

Method of determining assessed value

Official textnmonesource.comlast amended

# A.

Annually the department shall compute the value of products of each production unit for the previous calendar year.

# B.

The taxable value of equipment of each production unit is an amount equal to twenty-seven percent of the value of products of each production unit.

# C.

The assessed value of equipment of each production unit shall be determined by applying the uniform assessment ratio to the taxable value of equipment of each production unit.

Amendment history

1953 Comp., § 72-24-3, enacted by Laws 1969, ch. 119, § 3; 1972, ch. 60, § 1; 2025, ch. 130, § 142.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (20 sections)
  1. 7-34-1 · Short title
  2. 7-34-2 · Definitions
  3. 7-34-3 · Method of determining assessed value
  4. 7-34-4 · Ad valorem tax levied
  5. 7-34-5 · 7-34-5
  6. 7-34-6 · Tax statement; tax due date
  7. 7-34-7 · Department shall report to county; tax schedule
  8. 7-34-8 · Repealed
  9. 7-34-9 · 7-34-9
  10. 7-34-10 · Repealed
  11. 7-34-11 · Repealed
  12. 7-34-12 · Repealed
  13. 7-34-13 · Repealed
  14. 7-34-14 · Repealed
  15. 7-34-15 · Repealed
  16. 7-34-16 · Repealed
  17. 7-34-17 · Repealed
  18. 7-34-18 · Repealed
  19. 7-34-19 · Repealed
  20. 7-34-20 · Repealed
Full table of contents →