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New Mexico Constitution, Article VIII

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Article VIII, Taxation and Revenue

12 sections · 0 paragraphs in this article.

All articles265 Art. I1 Art. II24 Art. III1 Art. IV42 Art. V16 Art. VI39 Art. VII5 Art. VIII12 Art. IX16 Art. X10 Art. XI6 Art. XII15 Art. XIII3 Art. XIV3 Art. XV2 Art. XVI6 Art. XVII2 Art. XVIII2 Art. XIX5 Art. XX22 Art. XXI11 Art. XXII22

12 provisions·Filtered byArt. VIII✕

N.M. Const. art. VIII, § 1 Levy to Be Proportionate to Value; Uniform and Equal Taxes; Percentage of Value Taxed; Limitation on Annual Valuation Increases
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A. Except as provided in Subsection B of this section, taxes levied upon tangible property shall be in proportion to the value thereof, and taxes shall be equal and uniform upon subjects of taxation of the same class. Different methods may be provided by law to determine value of…
N.M. Const. art. VIII, § 2 Property Tax Limits; Exception
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Taxes levied upon real or personal property for state revenue shall not exceed four mills annually on each dollar of the assessed valuation thereof except for the support of the educational, penal and charitable institutions of the state, payment of the state debt and interest th…
N.M. Const. art. VIII, § 3 Tax-Exempt Property
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The property of the United States, the state and all counties, towns, cities and school districts and other municipal corporations, public libraries, community ditches and all laterals thereof, all church property not used for commercial purposes, all property used for educationa…
N.M. Const. art. VIII, § 4 Misuse and Deposit of Public Money

art-I

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Any public officer making any profit out of public money or using the same for any purpose not authorized by law, shall be deemed guilty of a felony and shall be punished as provided by law and shall be disqualified to hold public office. All public money not invested in interest…

N.M. Const. art. VIII, § 5 Head of Family and Veteran Exemptions

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A. The legislature shall exempt from taxation the property of each head of the family in the amount of two thousand dollars ($2,000). B. The legislature shall exempt from taxation the property, including the community or joint property of married individuals, of every honorably d…

N.M. Const. art. VIII, § 6 Assessment of Lands

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Lands held in large tracts shall not be assessed for taxation at any lower value per acre then [than] lands of the same character or quality and similarly situated, held in smaller tracts. The plowing of land shall not be considered as adding value thereto for the purpose of taxa…

N.M. Const. art. VIII, § 7 Judgments Against Local Officials

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No execution shall issue upon judgment rendered against the board of county commissioners of any county, or against any incorporated city, town or village, school district or board of education; or against any officer of any county, incorporated city, town or village, school dist…

N.M. Const. art. VIII, § 8 Exemption of Certain Personalty in Transit Through the State

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Personal property which is moving in interstate commerce through or over the state of New Mexico, or which was consigned to a warehouse, public or private, or factory within New Mexico from outside the state for storage in transit to a final destination outside the state of New M…

N.M. Const. art. VIII, § 9 Elected Governing Authority Prerequisite to Levy of Tax

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No tax or assessment of any kind shall be levied by any political subdivision whose enabling legislation does not provide for an elected governing authority. This section does not prohibit the levying or collection of a tax or special assessment by an initial appointed governing …

N.M. Const. art. VIII, § 10 Severance Tax Permanent Fund

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A. There shall be deposited in a permanent trust fund known as the "severance tax permanent fund" that part of state revenue derived from excise taxes that have been or shall be designated severance taxes imposed upon the severance of natural resources within this state, in exces…

N.M. Const. art. VIII, § 15 Property Tax Exemption for Disabled Veterans

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A.The legislature shall exempt from taxation the property, including the community or joint property of married individuals, of every veteran of the armed forces of the United States who has been determined pursuant to federal law to have a permanent service-connected disability,…

N.M. Const. art. VIII, § 16 Property tax exemption for property of veterans' organization chartered by United States Congress

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The legislature shall exempt from taxation the property of a veterans' organization chartered by the United States congress and used primarily for veterans and their families. The burden of proving eligibility for the exemption in this section is on the person claiming the exempt…