There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 39: Copper Production Ad Valorem Tax, 7-39-1 through 7-39-10
Section 7-39-8: Ad valorem tax levied.
Universal Citation:
NM Stat § 7-39-8 (1996 through 1st Sess 50th Legis)
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7-39-8. Ad valorem tax levied.
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 [Articles 35 to 38 of Chapter 7 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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