A. Annually the commission 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 assessed value of equipment of each production unit shall be determined by applying the uniform assessment ratio to the taxable value of equipment of each production unit. History: 1953 Comp., § 72-24-3, enacted by Laws 1969, ch. 119, § 3; 1972, ch. 60, § 1. Cross references. — For meaning of "commission", see 7-34-2A NMSA 1978.
‹ Prev All New Mexico sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.