0001| AN ACT | 0002| RELATING TO PROPERTY TAXATION; AUTHORIZING THE COUNTY ASSESSOR TO SEND | 0003| CERTAIN PROPERTY VALUATION NOTICES TO TAXPAYERS WITH THE PRECEDING | 0004| YEAR'S PROPERTY TAX BILLS. | 0005| | 0006| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0007| Section 1. Section 7-38-20 NMSA 1978 (being Laws 1973, Chapter | 0008| 258, Section 60, as amended) is amended to read: | 0009| "7-38-20. COUNTY ASSESSOR AND DEPARTMENT TO MAIL NOTICES OF VAL- | 0010| UATION.-- | 0011| A. By April 1 of each year, the county assessor shall mail a | 0012| notice to each property owner informing him of the net taxable value of | 0013| his property that has been valued for property taxation purposes by the | 0014| assessor. | 0015| B. By May 1 of each year, the department shall mail a notice | 0016| to each property owner informing him of the net taxable value of his | 0017| property that has been valued for property taxation purposes by the | 0018| department. | 0019| C. Failure to receive the notice required by this section | 0020| does not invalidate the value set on the property, any property tax | 0021| based on that value or any subsequent procedure or proceeding instituted | 0022| for the collection of the tax. | 0023| D. The notice required by this section shall state: | 0024| (1) the property owner's name and address; | 0025| (2) the description or identification of the property | 0001| valued; | 0002| (3) the classification of the property valued; | 0003| (4) the value set on the property for property | 0004| taxation purposes; | 0005| (5) the tax ratio; | 0006| (6) the taxable value of the property; | 0007| (7) the amount of any exemptions allowed and a | 0008| statement of the net taxable value of the property after deducting the | 0009| exemptions; | 0010| (8) the allocations of net taxable values to the | 0011| governmental units; and | 0012| (9) briefly, the procedures for protesting the value | 0013| determined for property taxation purposes, classification, allocation of | 0014| values to governmental units or denial of a claim for an exemption. | 0015| E. The county assessor may mail the valuation notice | 0016| required pursuant to Subsection A of this section to taxpayers with the | 0017| preceding tax year's property tax bills if the net taxable value of the | 0018| property has not changed since the preceding taxable year. In this | 0019| early mailing, the county assessor shall provide clear notice to the | 0020| taxpayer that the valuation notice is for the succeeding tax year and | 0021| that the deadlines for protest of the value or classification of the | 0022| property apply to this mailing date." | 0023| Section 2. APPLICABILITY.--The provisions of this act apply to | 0024| notices of valuation for the 1997 and subsequent property tax years. | 0025| | 0001| | 0002| HB | 0003| 515 | 0004| Page  |