New Mexico § 7-39-8 Ad valorem tax levied

New Mexico Statutes

§ 7-39-8 — Ad valorem tax levied

New Mexico § 7-39-8

Ch. 7Taxation

Art. 39Copper Production Ad Valorem Tax

This text of New Mexico § 7-39-8 (Ad valorem tax levied) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 7-39-8 (2026).

Text

An ad valorem tax is levied upon the owner of each copper mineral property that is not subject to valuation and taxation under the provisions of the Property Tax Code [Chapter 7, Articles 35 through 38 NMSA 1978]. The amount of the tax shall be equal to the product of the taxable value determined for each copper mineral property owned multiplied by the rate certified to the department by the department of finance and administration for nonresidential property under the provisions of Sections 7-37-7 and 7- 37-7.1 NMSA 1978 for the taxing jurisdictions in which the copper mineral property is located.

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An ad valorem tax is levied upon the owner of each copper mineral property that is not subject to valuation and taxation under the provisions of the Property Tax Code [Chapter 7, Articles 35 through 38 NMSA 1978]. The amount of the tax shall be equal to the product of the taxable value determined for each copper mineral property owned multiplied by the rate certified to the department by the department of finance and administration for nonresidential property under the provisions of Sections 7-37-7 and 7- 37-7.1 NMSA 1978 for the taxing jurisdictions in which the copper mineral property is located.