New Mexico Statutes
Article 36 - Valuation of Property
Section 7-36-2.1 - Classification of property.

A. Property subject to valuation for property taxation purposes shall be classified as either residential property or nonresidential property.
B. The department by regulation, ruling, order or other directive shall provide for the implementation of a classification system and shall include a method for apportioning the value of multiple-use properties between residential and nonresidential components.
History: 1978 Comp., § 7-36-2.1, enacted by Laws 1981, ch. 37, § 63; 1995, ch. 12, § 7.
Cross references. — For general methods of valuation of property, see 7-36-15 NMSA 1978.
For limitations on tax rates on residential property, see 7-37-7.1 NMSA 1978.
For presumption of nonresidential classification, see 7-38-17.1 NMSA 1978.
The 1995 amendment, effective June 16, 1995, substituted "department" for "division" and made a minor stylistic change in Subsection B.

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Structure New Mexico Statutes

New Mexico Statutes

Chapter 7 - Taxation

Article 36 - Valuation of Property

Section 7-36-1 - Provisions for valuation of property; applicability.

Section 7-36-2 - Allocation of responsibility for valuation and determining classification of property for property taxation purposes; county assessor and department.

Section 7-36-2.1 - Classification of property.

Section 7-36-3 - Industrial revenue bond, pollution control bond, economic development bond and regional air center special economic district bond project property; health-related equipment; tax status.

Section 7-36-3.1 - Metropolitan redevelopment property; tax status of lessee's interests.

Section 7-36-3.2 - Enterprise zone property; tax status of lessee's interests.

Section 7-36-4 - Fractional property interests; definitions; taxation and valuation of fractional interests.

Section 7-36-5 - Repealed.

Section 7-36-6 - Repealed.

Section 7-36-7 - Property subject to valuation for property taxation purposes.

Section 7-36-8 - Tangible personal property exempt from property tax; exceptions.

Section 7-36-9 - Repealed.

Section 7-36-10 - Repealed.

Section 7-36-12 - Repealed.

Section 7-36-13 - Repealed.

Section 7-36-14 - Taxable situs; allocation of value of property.

Section 7-36-15 - Methods of valuation for property taxation purposes; general provisions.

Section 7-36-16 - Responsibility of county assessors to determine and maintain current and correct values of property.

Section 7-36-17 - Repealed.

Section 7-36-18 - Collection and publication of property valuation data.

Section 7-36-19 - Valuation of major industrial and commercial properties; specialists' services furnished to county assessor by department.

Section 7-36-20 - Special method of valuation; land used primarily for agricultural purposes.

Section 7-36-21 - Special method of valuation; livestock.

Section 7-36-21.1 - Repealed.

Section 7-36-21.2 - Limitation on increases in valuation of residential property.

Section 7-36-21.3 - Limitation on increase in value for single-family dwellings occupied by low-income owners who are sixty-five years of age or older or disabled; requirements; penalties.

Section 7-36-22 - Mineral property; definitions and classifications for valuation purposes.

Section 7-36-23 - Special method of valuation; mineral property and property used in connection with mineral property; exception for potash and uranium mineral property and property used in connection with potash and uranium mineral property.

Section 7-36-24 - Special method of valuation; mineral property and property used in connection with mineral property when the primary production from the mineral property is potash.

Section 7-36-25 - Special method of valuation; mineral property and property used in connection with mineral property when the primary production from the mineral property is uranium.

Section 7-36-26 - Special method of valuation; manufactured homes.

Section 7-36-27 - Special method of valuation; pipelines, tanks, sales meters and plants used in the processing, gathering, transmission, storage, measurement or distribution of oil, natural gas, carbon dioxide or liquid hydrocarbons.

Section 7-36-28 - Special method of valuation; pipelines, tanks, collection systems, meters, plants and hydrants used in the collection, transmission, storage, treatment, discharge, measurement or distribution of water or wastewater.

Section 7-36-29 - Special method of valuation; property used for the generation, transmission or distribution of electric power or energy.

Section 7-36-30 - Special methods of valuation; property that is part of a communications system.

Section 7-36-31 - Special method of valuation; operating railroad property.

Section 7-36-32 - Special method of valuation; commercial aircraft.

Section 7-36-33 - Special method of valuation; certain industrial and commercial personal property.