NMSA 1978, § 7-38-32 — 7-38-32

Department to prepare a compilation of net taxable values
to be used for budget making and rate setting.

# A.

No later than June 30 of each year, the department shall prepare a compilation of
all net taxable values certified to it by the county assessors and shall include in the
compilation the information regarding protested values required to be furnished by the
assessors to the department. The compilation shall be prepared in a form appropriate
for use and shall be used for the purpose of making budgets. The compilation of net
taxable values shall be sent immediately to the secretary of finance and administration.

# B.

No later than August 1 of each year, the department shall prepare an amended
compilation of net taxable values and send it immediately to the secretary of finance
and administration. This amended compilation shall include final valuations resulting
from completed protests and information on pending protests. It shall be used by the
department of finance and administration in setting property tax rates.

# C.

In the budget-making process for local units of government, including school
districts, the net taxable values from the immediately preceding tax year may be
considered for the purpose of estimating available revenue from the current tax year
when the compilation of net taxable values certified under Subsection A is incomplete or
indefinite due to pending protests.