An ad valorem tax is levied on the assessed value of the equipment at each production unit. The tax shall be at the rate certified to the department by the department of finance and administration under the provisions of Section 7-37-7 NMSA 1978. History: 1953 Comp., § 72-24-4, enacted by Laws 1969, ch. 119, § 4; 1981, ch. 37, § 59; 2025, ch. 130, § 143.
Ad valorem tax levied
NMSA 1978, § 7-34-4 — under Article 34.
NMSA 1978, § 7-34-4