NMSA 1978, § 7-36-16 — 7-36-16

Responsibility of county assessors to determine and
maintain current and correct values of property.

# A.

County assessors shall determine values of property for property taxation
purposes in accordance with the Property Tax Code and the regulations, orders, rulings
and instructions of the department. Except as limited in Section 7-36-21.2 NMSA 1978,
they shall also implement a program of updating property values so that current and
correct values of property are maintained and shall have sole responsibility and
authority at the county level for property valuation maintenance, subject only to the
general supervisory powers of the director.

# B.

The director shall implement a program of regular evaluation of county
assessors' valuation activities with particular emphasis on the maintenance of current
and correct values.

# C.

Upon request of the county assessor, the director may contract with a board of
county commissioners for the department to assume all or part of the responsibilities,
functions and authority of a county assessor to establish or operate a property valuation
maintenance program in the county. The contract shall be in writing and shall include
provisions for the sharing of the program costs between the county and the department.
The contract must include specific descriptions of the objectives to be reached and the
tasks to be performed by the contracting parties. The initial term of any contract
authorized under this subsection shall not extend beyond the end of the fiscal year
following the fiscal year in which it is executed, but contracts may be renewed for
additional one-year periods for succeeding years.

# D.

The department of finance and administration shall not approve the operating
budget of any county in which there is not an adequate allocation of funds to the county
assessor for the purpose of fulfilling his responsibilities for property valuation
maintenance under this section. If the department of finance and administration
questions the adequacy of any allocation of funds for this purpose, it shall consult with
the department, the board of county commissioners and the county assessor in making
its determination of adequacy.

# E.

To aid the board of county commissioners in determining whether a county
assessor is operating an efficient program of property valuation maintenance and in
determining the amount to be allocated to him for this function, the county assessor
shall present with his annual budget request a written report setting forth improvements
of property added to valuation records during the year, additions of new property to
valuation records during the year, increases and decreases of valuation during the year,
the relationship of sales prices of property sold to values of the property for property
taxation purposes and the current status of the overall property valuation maintenance
program in the county. The county assessor shall send a copy of this report to the
department.