exclusive measure of ad valorem tax liability. The tax levied by Section 7-34-4 NMSA 1978 shall be the full and exclusive measure of ad valorem tax liability for equipment used at a production unit. Any other ad valorem tax on equipment used at a production unit is void. History: 1953 Comp., § 72-24-5, enacted by Laws 1969, ch. 119, § 5; 1985, ch. 65, § 44; 2025, ch. 130, § 144.
Oil and gas production equipment ad valorem tax to be
NMSA 1978, § 7-34-5 — under Article 34.
NMSA 1978, § 7-34-5