![]() Statement of decrease in value of property subject to local valuation No later than the last day of February of a tax year, any owner of property subject to valuation by the county assessor who believes that the value of his property has decreased in the previous tax year may file with the county assessor a signed statement describing the property affected, the cause and nature of the decrease in value and the amount by which the owner contends the valuation of the property has been decreased. Reporting of property for valuation penalties for failure to report- All property subject to valuation for property taxation purposes by the department shall be reported annually to the department. The owner of a manufactured home shall report annually to the assessor's office for valuation Special method of valuation manufactured homes. The owner of the land must make application to the county assessor in a tax year in which the valuation method of this section is first claimed to be applicable to the land or in a tax year immediately subsequent to a tax year in which the land was not valued under this section. Evidence of bona fide primary agricultural use of land for the tax year preceding the year for which determination is made of eligibility for the land to be valued under this section creates a presumption that the land is used primarily for agricultural purposes during the tax year in which the determination is made. Special method of valuation land used primarily for agricultural purposes - The value of land used primarily for agricultural purposes shall be determined on the basis of the land's capacity to produce agricultural products. The evaluation will include, but not be limited to, a review of the performance of the county assessor's functions. All livestock not located in the state on January 1 but brought into the state and located there for more than twenty days subsequent to January 1 shall be valued for property taxation purposes as of the first day of the month following the month in which they have remained in the state for more than twenty days.ĭirectors supervisory power over county assessors-duty to evaluate performance and provide technical assistance ANNUAL EVALUATION OF ASSESSORS: The division will conduct, during each calendar year, an evaluation of each county assessor's operations during that calendar year. Valuation Date All property subject to valuation for property taxation purposes shall be valued as of January 1 of each tax year, except that livestock shall be valued as of the date and in the manner prescribed under Section 7-36-21 NMSA 1978 and tangible personal property of construction contractors shall be valued as of the date and in the manner prescribed under Section 1 of this act.Įach county assessor shall have a notice published in a newspaper of general circulation within the county at least once a week during the first three full weeks in January of each tax year relating to reporting property for valuation and claiming of exemptions.Īll livestock located in the state on January 1 of the tax year shall be valued for property taxation purposes as of January 1. ![]()
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