us-nm/stat
NMSA 1978, § 7-36-2.1 — Classification of property
A.
Property subject to valuation for property taxation purposes shall be classified as
either residential property or nonresidential property.
B.
The department by regulation, ruling, order or other directive shall provide for the
implementation of a classification system and shall include a method for apportioning
the value of multiple-use properties between residential and nonresidential components.
Source: official text