Chapter 7 — Chapter 7

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-33-20 NMSA 1978, as enacted by Laws 1963, ch. 179, § 20, relating to payment of taxes to release lien, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-33-21 NMSA 1978, as enacted by Laws 1963, ch. 179, § 21, relating to remedies cumulative, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-33-22 NMSA 1978, as enacted by Laws 1963, ch. 179, § 22, relating to limitation of action, effective July 1, 1985. ARTICLE 34 Oil and Gas Production Equipment Ad Valorem Tax

ANNOTATIONS Repeals. — Laws 1989, ch. 115, § 6B repealed 7-33-3 NMSA 1978, as enacted by Laws 1963, ch. 179, § 3, relating to purpose of Natural Gas Processors Tax Act, effective July 1, 1989.

A. There is levied and shall be collected by the department a privilege tax on processors for the privilege of operating a natural gas processing plant in New Mexico. This tax may be referred to as the "natural gas processors tax". B. The tax shall be imposed on the amount of mmb…

ANNOTATIONS Repeals. — Laws 1998, ch. 102, § 7, repealed 7-33-5 NMSA 1978, as enacted by Laws 1963, ch. 179, § 5, relating to valuing the products of a processor, effective January 1, 1999. For provisions of former section, see the 1997 NMSA 1978 on NMOneSource.com.

Any person who has overpaid the tax may apply for a refund of that overpayment in accordance with the provisions of Section 7-1-26 NMSA 1978. History: 1953 Comp., § 72-23-6, enacted by Laws 1963, ch. 179, § 6; 1985, ch. 65, § 42; 1998, ch. 102, § 3.

department. The tax shall not be levied more than once on the same natural gas. Reporting of natural gas on which the tax has been paid is subject to the regulation of the department. History: 1953 Comp., § 72-23-7, enacted by Laws 1963, ch. 179, § 7; 1998, ch. 102, § 4.

A. Each processor shall submit a return monthly to the department in the form and manner required by the department showing for the month the total mmbtus of natural gas received by the processor at the inlet of the natural gas processing plant and the total mmbtus of natural gas…

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-33-9 NMSA 1978, as enacted by Laws 1963, ch. 179, § 9, relating to oil and gas manufacturers privilege tax fund, refunds and adjustments, effective July 1, 1985.

Chapter 7, Article 34 NMSA 1978 may be cited as the "Oil and Gas Production Equipment Ad Valorem Tax Act". History: 1953 Comp., § 72-24-1, enacted by Laws 1969, ch. 119, § 1; 1985, ch. 65, § 43.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-10 NMSA 1978, as enacted by Laws 1969, ch. 119, § 10, relating to tax paid erroneously, refund, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-11 NMSA 1978, as enacted by Laws 1969, ch. 119, § 11, relating to tax payment under protest, suit authorized, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-12 NMSA 1978, as enacted by Laws 1969, ch. 119, § 12, relating to interest and penalties, restraint from severing products, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-13 NMSA 1978, as enacted by Laws 1969, ch. 119, § 13, relating to subpoena power, misdemeanor, fine, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-14 NMSA 1978, as enacted by Laws 1969, ch. 119, § 14, relating to retraining order, injunction, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-15 NMSA 1978, as enacted by Laws 1969, ch. 119, § 15, relating to personal debt, action in any district court, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-16 NMSA 1978, as enacted by Laws 1969, ch. 119, § 16, relating to lien against property, notice to be filed, notice to debtor, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-17 NMSA 1978, as enacted by Laws 1969, ch. 119, § 17, relating to sale of property to satisfy lien, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-18 NMSA 1978, as enacted by Laws 1969, ch. 119, § 18, relating to payment of taxes to release lien, effective July 1, 1985.

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-19 NMSA 1978, as enacted by Laws 1969, ch. 119, § 19, relating to remedies cumulative, effective July 1, 1985.

As used in the Oil and Gas Production Equipment Ad Valorem Tax Act: A. "department" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary; B. "pe…

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-20 NMSA 1978, as enacted by Laws 1969, ch. 119, § 20, relating to limitation of action, effective July 1, 1985. ARTICLE 35 Property Tax

A. Annually the department shall compute the value of products of each production unit for the previous calendar year. B. The taxable value of equipment of each production unit is an amount equal to twenty-seven percent of the value of products of each production unit. C. The ass…

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, e…

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:…

Annually the department shall compute the assessed value of equipment for each production unit and extend the applicable rates against the assessed value to determine the amount of tax due. The department shall prepare a tax statement for each production unit showing the producti…

On or before December 30, the department shall deliver a tax schedule to each county in which production units are located, identifying each production unit, the taxing district in which it is located, the value, assessed value, district rates and the amount of tax paid. History:…

ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-34-8 NMSA 1978, as enacted by Laws 1969, ch. 119, § 8, relating to the oil and gas accounting commission ad valorem equipment tax fund, effective July 1, 1985.

remittances to state and county treasurers; state and county treasurers may distribute funds. A. By the last day of each month, the department shall prepare and certify a report to the secretary of finance and administration. The report shall be for the preceding month and shall …

Articles 35 through 38 of Chapter 7 NMSA 1978 may be cited as the "Property Tax Code". History: 1953 Comp., § 72-28-1, enacted by Laws 1973, ch. 258, § 1; 1982, ch. 28, § 1.

political subdivisions of the state. The division shall provide, subject to the availability of resources within the division, assistance services to state agencies and political subdivisions in the valuation of property owned or being considered for purchase by the state or by p…

As used in the Property Tax Code: A. "abandoned real property" means real property: (1) that is part of a subdivision where the subdivision has a minimum of five thousand lots in delinquency on the department's delinquent property tax list as prepared by the appropriate county tr…

As used in the Property Tax Code, "costs" means the expenses incurred by the department in connection with collecting delinquent taxes. As applied to a particular property, "costs" may be, in the discretion of the department, either the sum of the expenses incurred specifically i…

to evaluate performance and provide technical assistance; property valuation fund created. A. The director has general supervisory authority over county assessors for the purposes of assuring implementation of and compliance with the provisions of the Property Tax Code and applic…

The department shall prepare, issue and periodically revise valuation manuals, cost and valuation schedules, bulletins and annotated digests of property tax laws and regulations in handbook form for the use of its employees, the county assessors and their employees and other pers…

A. The department shall conduct or sponsor special courses of instruction and in- service and intern training programs on the technical, legal and administrative aspects of property taxation. The department may cooperate with educational institutions and appropriate organizations…

performance of county assessor's functions. A. If the secretary finds after informal efforts to obtain compliance have failed that a county assessor is not complying with the Property Tax Code or with the regulations, orders, rulings or other administrative directives of the depa…

finance and administration's performance of county treasurer's functions. A. If the secretary of finance and administration finds that a county treasurer has failed to comply with the Property Tax Code or regulations, orders, rulings or instructions of the department or of the de…

reimbursed to department by counties for services provided by department. When any provision of the Property Tax Code requires a county to reimburse the department for the costs of services provided by the department, the director may reduce the amount required to be reimbursed t…

ANNOTATIONS Repeals. — Laws 1982, ch. 28, § 31, repealed 7-35-9 NMSA 1978, as enacted by Laws 1973, ch. 258, § 12, relating to the furnishing of annual reports by the property tax division of the taxation and revenue department, effective May 19, 1982.

The provisions of this article apply to and govern the determination of value of all property subject to valuation for property taxation purposes under the Property Tax Code. History: 1953 Comp., § 72-29-1, enacted by Laws 1973, ch. 258, § 13.

ANNOTATIONS Repeals. — Laws 1993, ch. 8, § 2 repealed 7-36-10 NMSA 1978, as enacted by Laws 1973, ch. 11, § 1, relating to inventories of personal property exempt from property taxation, exceptions, effective June 18, 1993. For provisions of former section, see the 1992 NMSA 1978…

ANNOTATIONS Repeals. — Laws 1993, ch. 8, § 2 repealed 7-36-12 NMSA 1978, as enacted by Laws 1973, ch. 10, § 1, relating to exemption from property tax, aircraft registered under the Aircraft Registration Act, effective June 18, 1993. For provisions of former section, see the 1992…

ANNOTATIONS Repeals. — Laws 1993, ch. 8, § 2 repealed 7-36-13 NMSA 1978, as enacted by Laws 1973, ch. 9, § 1, relating to exemption from property tax, private railroad cars, the earnings of which are subject to taxation under provisions of Section § 7-11-3 NMSA 1978, effective Ju…

A. Property has a taxable situs in the state if: (1) it is real property and is located in the state; (2) it is an interest in real property and the real property is located in the state; (3) it is personal property and is physically present in the state on the date when it is re…

general provisions. A. Property subject to valuation for property taxation purposes under this article of the Property Tax Code shall be valued by the methods required by this article of the Property Tax Code whether the determination of value is made by the department or the cou…

maintain current and correct values of property. A. County assessors shall determine values of property for property taxation purposes in accordance with the Property Tax Code and the regulations, orders, rulings and instructions of the department. Except as limited in Section 7-…

ANNOTATIONS Repeals. — Laws 1979, ch. 268, § 3, repealed 7-36-17 NMSA 1978, as enacted by Laws 1977, ch. 361, § 1, relating to limitation on increases in valuation of certain property for property taxation purposes.