NMSA 1978, § 7-38-7 — Valuation date

All property subject to valuation for property taxation purposes shall be valued as of
January 1 of each tax year, except that livestock shall be valued as of the date and in
the manner prescribed under Section 7-36-21 NMSA 1978 and tangible personal
property of construction contractors shall be valued as of the date and in the manner
prescribed under Section 1 [7-38-7.1 NMSA 1978] of this act.