NMSA 1978, § 7-38-8 — 7-38-8

Reporting of property for valuation; penalties for failure to
report.

# A.

All property subject to valuation for property taxation purposes by the department
shall be reported annually to the department. The report required by this subsection
shall be made by the owner of the property or such other person as may be authorized
by rules of the department. The report shall be in a form and contain the information
required by rules of the department. It shall be made not later than the last day of
February in the tax year in which the property is subject to valuation. Claims of
economic obsolescence or functional obsolescence on properties not regulated by the
federal government shall be made at the time the annual report is filed; however, the
department shall accept supplements to the annual report containing claims of
economic obsolescence or functional obsolescence on properties regulated by the
federal energy regulatory commission or its successor agency at the time the annual
commission report becomes available, but no later than April 15 of the tax year or at a
later time allowed by an extension granted by the department. In the case of the failure
or refusal to file the report required under this subsection, the department shall
determine the value of the property subject to valuation from the best information
available.

# B.

Except as provided in Subsection D of this section, all property subject to
valuation for property taxation purposes by the county assessor shall be reported as
follows:
(1) property valued in the 1974 tax year by the county assessor need not be
reported for any subsequent tax year unless required to be reported under Paragraph
(3) of this subsection;
(2) property not valued in the 1974 tax year by the county assessor but that
becomes subject to valuation by the county assessor in any subsequent tax year shall
be reported to the county assessor not later than the last day of February of the tax year
in which it becomes subject to valuation, but such property need not be reported for any
year subsequent to the year in which initially reported unless required to be reported
under Paragraph (3) of this subsection;
(3) property once valued by a county assessor in a tax year, but which is not
valued for a year subsequent to the year of initial valuation because it is not subject to
valuation for that subsequent year by the county assessor, shall be reported to the
county assessor not later than the last day of February in a tax year in which it again
becomes subject to valuation by the county assessor; and
(4) reports required under Paragraphs (2) and (3) of this subsection shall be
in a form and contain the information required by rules of the department.

# C.

Not later than the last day of February of each tax year, every owner of real
property who made, or caused to be made, in the preceding calendar year
improvements costing more than ten thousand dollars ($10,000) to that real property
shall report to the county assessor the property improved, the improvements made, the
cost of the improvements and such other information as the department may require.

# D.

Manufactured homes, livestock and land used for agricultural purposes shall be
reported for valuation for property taxation purposes to the county assessor at the times
and in the manner prescribed under Sections 7-36-26, 7-36-21 and 7-36-20 NMSA
1978 and rules promulgated by the department.

# E.

Property subject to valuation by the county assessor for property taxation
purposes and improvements to such property that are required to be reported under
Subsection C of this section shall be reported to the county assessor of the county in
which the property is required to be valued under Section 7-36-14 NMSA 1978. Reports
shall be made either by the owner of the property, the owner's authorized agent or any
person having control or management of the property and shall be in a form and contain
the information required by rules of the department.

# F.

Reports required by this section shall be made by the declarant under oath, and
the secretary, employees of the department, the assessor and the assessor's
employees are empowered to administer oaths for this purpose.

# G.

A person who intentionally refuses to make a report required under the
provisions of Subsection A, B or C of this section or who knowingly makes a false
statement in a report required under the provisions of Subsection A, B or C of this
section is guilty of a misdemeanor and upon conviction shall be punished by the
imposition of a fine of not more than one thousand dollars ($1,000).

# H.

A person who fails to make a report required under the provisions of Subsection
A or B of 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 the person failed to make the required report.

# I.

A person who intentionally refuses to make a report required under the
provisions of Subsection A or B of this section with the intent to evade any tax or who
fails to make a report required under the provisions of Subsection A or B of 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 the person refused or failed to make the required report.

# J.

A person who is required to make a report under the provisions of Subsection C
of this section and who fails to do so is personally liable for a civil penalty in an amount
equal to the greater of twenty-five dollars ($25.00) or twenty-five percent of the
difference between the property taxes ultimately determined to be due and the property
taxes originally paid for the tax year or years for which the person failed to make the
required report. This penalty shall not be considered a delinquent property tax, and the
provisions of the Property Tax Code for the enforcement and collection of delinquent
property taxes through the sale of the property do not apply. However, the county
treasurer may use all other methods provided by law to collect the property tax or
penalty due. Notwithstanding any other provision of the Property Tax Code, amounts
collected pursuant to the penalty provided by this subsection shall be distributed among
jurisdictions imposing tax on the property in the same proportion as the amount of tax
ultimately determined to be due for the jurisdiction bears to the total due for all such
jurisdictions.

# K.

The civil penalties authorized under Subsections H and I 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 persons
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.

# L.

For the purposes of this section:
(1) "improvement" means the construction of any new structure permanently
affixed to the land or the repair, rehabilitation or alteration of an existing structure
permanently affixed to the land that, for property used for any commercial purpose, is
required or allowed to be capitalized under the Internal Revenue Code and, for other
properties, any similar construction, repair, rehabilitation or alteration; and
(2) "owner of real property" includes every owner of improvements who does
not own the land upon which the improvements are made.