Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Oil and Gas Production Equipment Ad Valorem Tax
  5. Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.

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The tax levied by Section 7-34-4 NMSA 1978 shall be the full and exclusive measure of ad valorem tax liability for equipment used at a production unit for the calendar year 1969 and all subsequent years. Any other ad valorem tax on equipment used at a production unit is void.

History: 1953 Comp., § 72-24-5, enacted by Laws 1969, ch. 119, § 5; 1985, ch. 65, § 44.

ANNOTATIONS

Cross references. — For taxes being exclusive of any other ad valorem taxes, see 7-32-5 NMSA 1978.


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