New Mexico Administrative Code

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Uniform Division of Income for Tax Purposes Act.

[Reserved.]

A. From the items of gross income from rents, patent and copyright royalties interest, dividends and capital gains being specifically allocated to or outside this state, there shall be deducted the expenses related thereto. The term "expenses related thereto" as used in Section 3…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

A. Except as to duties under Section 7-35-6 NMSA 1978 and where otherwise prohibited by statute and where otherwise specifically reserved in Parts 1 through 7 of Chapter 3.6 NMAC to the secretary of taxation and revenue or the taxation and revenue department, authority for discha…

The phrase "net taxable value" as defined in Section 7-35-2 NMSA 1978 is calculated for residential property in the manner shown in the following example: Value of property upon which property tax is imposed (full value) $ 100,000 Times the Tax Ratio x .333333 Taxable value $ 33,…

A tax identification number issued by the internal revenue service to individuals not qualified to be issued a social security number will be accepted by the department in lieu of the social security number in all cases in which reporting a social security number is required unde…

The sections under this part apply to all property subject to property taxation under the Property Tax Code, owners and agents of owners of such property and all county officials and personnel of the taxation and revenue department charged with administration of the Property Tax …

Section 9-11-6.2 NMSA 1978.

Permanent.

8/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Property Tax Code.

A. "BUFFALO" DEFINED: The terms "buffalo" and "livestock" include the American bison (Bison bison) and any offspring from a crossbreeding of the American bison and domestic cattle. B. "DIRECTOR" AND "DIVISION": As used in Parts 1 through 7 of Chapter 3.6 NMAC: (1) "Director" mean…

A. All rulings pertaining to the Property Tax Code issued by the secretary of taxation and revenue prior to the effective date of Parts 1 through 7 of Chapter 3.6 NMAC are superseded by Parts 1 through 7 of Chapter 3.6 NMAC as to tax liability incurred subsequent to the effective…

The Property Tax Code must be read and construed in its entirety.

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

Written approval by the director or the director's delegate for reimbursement of expenses incurred by assessors and employees of the state and its political subdivisions who attend training programs conducted or sponsored by the department is required to be obtained in advance of…

The secretary will immediately notify the secretary of finance and administration of any information the secretary acquires indicating that a county treasurer has failed to comply with the Property Tax Code or regulations, orders, rulings, or instructions of the department under …

The secretary will not consider reduction of the amount a county is required to reimburse the department until a report is obtained by the department from the department of finance and administration showing the extent to which county funds are available to make the reimbursement…

The purpose of the New Mexico certified appraiser certificate is to recognize professionalism and competency in the valuation of property for property taxation purposes. Certified appraisers may use this designation in conjunction with the valuation of a wide range of property as…

The sections under this part apply to all property subject to property taxation under the Property Tax Code, owners and agents of owners of such property and all county officials and personnel of the taxation and revenue department charged with administration of the Property Tax …

Section 9-11-6.2 NMSA 1978.

Permanent.

8/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Property Tax Code.

[Reserved.]

A. ANNUAL EVALUATION OF ASSESSORS: The division will conduct, during each calendar year, an evaluation of each county assessor's operations during that calendar year. The evaluation will include, but not be limited to, a review of the performance of the county assessor's function…

Department employees, county assessors and their employees are required to use the most current department valuation manuals and cost and valuation schedules. Alternative cost and valuation schedules and alternative valuation manuals may be used with the director's written approv…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

The sections under this part apply to all property subject to property taxation under the Property Tax Code, owners and agents of owners of such property and all county officials and personnel of the Taxation and Revenue Department charged with administration of the Property Tax …

Section 9-11-6.2 NMSA 1978.

Permanent.

8/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Property Tax Code.

A. As used in Parts 1 through 7 of Chapter 3.6 NMAC the following terms, which are not defined in Section 7-35-2 NMSA 1978, are defined as follows unless limited by another section of Parts 1 through 7 of Chapter 3.6 NMAC: (1) "Airline." An airline is any business engaged in the …

A. PIPELINES FOR IRRIGATION PURPOSES NOT EXEMPT: Although community ditches and their laterals are exempted by Article VIII, Section 3 of the New Mexico Constitution, other irrigation works, water pipeline businesses or public utilities which use pipelines as a means of deliverin…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

Because it does not constitute an interest in real property, a license which does not confer the dominion and control necessary to constitute a leasehold is not included within the definition of "fractional interest" as that term is defined in Section 7-36-4 NMSA 1978.

A. CERTAIN DISTRICT PROPERTY EXEMPT: (1) Section 73-17-22 NMSA 1978 provides that title to all rights and property acquired by any conservancy district shall immediately and by operation of law vest in such district in its corporate name. Further, such property is held for uses a…

A. PROPERTY SUBJECT TO INTERNAL REVENUE CODE SECTION 179 DEDUCTION: (1) A deduction claimed under Section 179 of the Internal Revenue Code for federal income tax purposes shall be considered to be depreciation for the purposes of Section 7-36-8 NMSA 1978. Any item of personal pro…