{"data":{"id":"us-nm/7-34-4","jurisdiction":"us-nm","citation":"7-34-4","heading":"Ad valorem tax levied.","body":"An ad valorem tax is levied on the assessed value of the equipment at each production unit. The tax shall be at the rate certified to the department by the department of finance and administration under the provisions of Section 7-37-7 NMSA 1978.","path":["Chapter 7 - Taxation","ARTICLE 34 Oil and Gas Production Equipment Ad Valorem Tax"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"adf0177069f16fb94e3c9795d636d76998403e8a41896cfc14ea44c6b2fb8ed4","source_id":"us-nm","stale":false,"prev":"us-nm/7-34-3","next":"us-nm/7-34-5"},"notice":"GroundRules: Original legal text. Not legal advice."}