New Mexico Administrative Code
Title 3 - TAXATION
Chapter 6 - PROPERTY TAXES
Part 7 - ADMINISTRATIVE PROVISIONS
Section 3.6.7.24 - PROPERTY ACQUIRED BY THE STATE BY OUTRIGHT PURCHASE OR TRADE
Universal Citation: 3 NM Admin Code 3.6.7.24
Current through Register Vol. 35, No. 18, September 24, 2024
The property of the state is exempt from taxation by Section 3 of Article VIII, New Mexico Constitution. If property is acquired by the state by outright purchase or trade, where such property was, prior to such transfer, subject to the lien of any tax or assessment for the principal or interest of any bonded indebtedness, the property is not exempt from the lien nor from the payment of the taxes or assessments.
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