N.M. Admin. Code § 3.6.50.12

Current through Register Vol. 35, No. 21, November 5, 2024

Section 3.6.50.12 - COUNTY PROPERTY VALUATION FUND

A. The county property valuation fund is created in Section 7-38-38.1 NMSA 1978 and prescribes the method and manner for the collection and distribution of the administrative charge on revenue recipients to offset collection costs.

B. All administrative charges shall be collected by the treasurer and distributed to the county property valuation fund.

C. The assessor's budget for purposes of calculating the forty percent of the amount shall include all appropriations made to the assessor's budget including the county property valuation fund.

D. The treasurer is responsible for collecting the administrative charges and distributing these collections to the county property valuation fund in accordance with statute, relevant county ordinances and stipulated orders.

N.M. Admin. Code § 3.6.50.12

7/15/98; Recompiled 10/01/01