New Mexico Administrative Code
Title 3 - TAXATION
Chapter 6 - PROPERTY TAXES
Part 7 - ADMINISTRATIVE PROVISIONS
Section 3.6.7.53 - PERSONAL PROPERTY - JEOPARDY ASSESSMENTS
Current through Register Vol. 35, No. 18, September 24, 2024
A. JEOPARDY ASSESSMENT: Section 7-38-44 NMSA 1978 authorizes the secretary or the county assessor to issue a notice of valuation and a property tax bill simultaneously and immediately proceed to collect, by means of demand warrant pursuant to Section 7-38-54 NMSA 1978 the tax due at any time that the valuation authority has reasonable cause to believe that personal property subject to valuation by the valuation authority for property taxation purposes in a tax year will be removed from the state before the taxes for that year are due and that the removal of the property will jeopardize collection of the tax. Personal property seized pursuant to demand warrant cannot be sold until after the notice requirements of Section 7-38-57 NMSA 1978 are fulfilled.
B. VALUATION DATE FOR JEOPARDY ASSESSMENT PURPOSES: Section 7-38-7 NMSA 1978 fixes January 1 of each year as the date which determines the condition or status of the taxability of all property subject to valuation for property taxation purposes, except livestock which is to be valued as of the date and in the manner prescribed under Section 7-36-21 NMSA 1978. Therefore, no jeopardy assessment shall issue against property not in the state on January 1 of the tax year, except as to livestock.
C. CONTESTING A NOTICE OF VALUATION ISSUED PURSUANT TO A JEOPARDY ASSESSMENT: In order to contest the value determined for the property pursuant to Section 7-38-44 NMSA 1978, a property owner must pay the tax in the amount shown on the tax bill and file a claim for refund pursuant to Section 7-38-40 NMSA 1978. Petitions of protest to a notice of valuation pursuant to Section 7-38-44 NMSA 1978 do not stay the delivery of the property tax bill or proceedings to collect the tax by demand warrant. Therefore, claim for refund is the only appropriate remedy to contest the value determined pursuant to that section.
