By August 1 of each year, the department shall prepare and send to the department of finance and administration schedules of the taxable value and taxing jurisdictions of each copper mineral property. The taxable values shown on the schedules shall be used by the department of finance and administration in setting property tax rates. A copy of the schedule for the county shall be sent to the assessors of the respective counties in which copper mineral property is located, who shall accept the schedules as the assessment of copper mineral property required under the Copper Production Ad Valorem Tax Act.
History: 1978 Comp., § 7-39-6, enacted by Laws 1990, ch. 125, § 13.
Structure New Mexico Statutes
Article 39 - Copper Production Ad Valorem Tax
Section 7-39-3 - Application of act.
Section 7-39-4 - Valuation of copper mineral property.
Section 7-39-5 - Annual report of value.
Section 7-39-6 - Notification to department of finance and administration and counties.
Section 7-39-7 - Determination of taxable values for taxing districts.
Section 7-39-8 - Ad valorem tax levied.