us-nm/stat
NMSA 1978, § 7-36-26 — Special method of valuation; manufactured homes
A.
The owner of a manufactured home subject to valuation for property taxation
purposes shall report the manufactured home annually for valuation to the county
assessor of the county in which the manufactured home is located on January 1. The
report shall be in a form and contain the information required by department regulation
and shall be made no later than the last day of February of the tax year in which the
property is subject to valuation.
B.
The valuation method used for determining the value of manufactured homes for
property taxation purposes shall be a cost method applying generally accepted
appraisal techniques and shall generally provide for:
(1) the determination of initial cost of a manufactured home based upon
classifications of manufactured homes and sales prices for the various classifications;
(2) deductions from initial cost for allowable depreciation, which allowances
for depreciation shall be developed by the division; and
(3) deduction from initial cost of other justifiable factors, including but not
limited to functional and economic obsolescence.
C.
Whether or not the presence of a manufactured home is declared and reported
by the owner to a county assessor as required by this section, the county assessor shall
determine the value for property taxation purposes of each manufactured home located
in the county and subject to valuation. County assessors shall use the information
required to be furnished them under Sections 66-6-10 and 66-7-413 NMSA 1978 to
assure that accurate records of locations of manufactured homes are maintained.
D.
Any person who intentionally refuses to make a report required of him under this
section or who knowingly makes a false statement in a report required under this
section is guilty of a misdemeanor and shall be punished by the imposition of a fine of
not more than one thousand dollars ($1,000).
E.
Any person who fails to make a report required of him under this section is liable
for a civil penalty in an amount equal to five percent of the property taxes ultimately
determined to be due on the property for the tax year or years for which he failed to
make the required report.
F.
Any person who intentionally refuses to make a report required of him under this
section with the intent to evade any tax or who fails to make a report required of him
under this section with the intent to evade any tax is liable for a civil penalty in an
amount equal to twenty-five percent of the property taxes ultimately determined to be
due on the property for the tax year or years for which he refused or failed to make the
required report.
G.
The civil penalties authorized under Subsections E and F of this section shall be
imposed and collected at the time and in the manner that the tax is imposed and
collected. In order to assist in the imposition and collection of the penalties, the
assessor having responsibility for determining the value of the property shall make an
entry in the valuation records indicating the liability for any penalties due under this
section.
Source: official text