45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO PROPERTY TAX ADMINISTRATION; AMENDING PROVISIONS ON COUNTY ADMINISTRATIVE CHARGES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 7-38-38.1 NMSA 1978 (being Laws 1986, Chapter 20, Section 116, as amended) is amended to read:

"7-38-38.1. RECIPIENTS OF REVENUE PRODUCED THROUGH AD VALOREM LEVIES REQUIRED TO PAY COUNTIES ADMINISTRATIVE CHARGE TO OFFSET COLLECTION COSTS.--

A. As used in this section:

(1) "revenue" means money for which a county treasurer has the legal responsibility for collection and which is owed to a revenue recipient as a result of an imposition authorized by law of a rate expressed in mills per dollar or dollars per thousands of dollars of net taxable value of property, assessed value of property or a similar term, including but not limited to money resulting from the authorization of rates and impositions under Subsection B and Paragraphs (1) and (2) of Subsection C of Section 7-37-7 NMSA 1978, special levies for special purposes and benefit assessments, but the term does not include any money resulting from the imposition of taxes imposed under the provisions of the Oil and Gas Ad Valorem Production Tax Act, the Oil and Gas Production Equipment Ad Valorem Tax Act or the Copper Production Ad Valorem Tax Act or money resulting from impositions under Paragraph (3) of Subsection C of Section 7-37-7 NMSA 1978; and

(2) "revenue recipient" means the state and any of its political subdivisions, excluding institutions of higher education located in class "A" counties and class "B" counties having more than three hundred million dollars ($300,000,000) valuation, that are authorized by law to receive revenue.

B. Prior to the distribution to a revenue recipient of revenue received by a county treasurer, the treasurer shall [bill the revenue recipient] deduct as an administrative charge an amount equal to

[(1) in class "A" counties, three-fourths of one percent of the revenue received, but not to exceed forty percent of the budget of the county assessor for the current fiscal year as approved by the department of finance and administration; and

(2) in all other counties] one percent of the revenue received [but not to exceed forty percent of the budget of the county assessor for the current fiscal year as approved by the department of finance and administration].

C. The "county property valuation fund" is created. All administrative charges [shall be collected] deducted by the county treasurer [and] shall be distributed to the county property valuation fund. [The revenue recipient may pay the administrative charge from any fund unless otherwise prohibited by law.]

D. Expenditures from the county property valuation fund may be made pursuant to a property valuation program presented by the county assessor and approved by the majority of the county commissioners."