New Mexico Administrative Code
Title 3 - TAXATION
Chapter 6 - PROPERTY TAXES
Part 6 - PROVISIONS FOR IMPOSITION OF TAX - APPLICABILITY
Section 3.6.6.10 - APPLICATION OF TAX RATIO
Universal Citation: 3 NM Admin Code 3.6.6.10
Current through Register Vol. 35, No. 18, September 24, 2024
The tax ratio is applied to the value of property determined for property taxation purposes by dividing that value by three. The quotient resulting from this division is the "taxable value" of the property.
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