State Assessed Properties Bureau 

The State Assessed Properties Bureau (SAPB) values property and processes property tax returns for New Mexico‘s 500 most complex multi-county property taxpayers and determines taxable values of these properties.

 

We are responsible for the property taxes for several specialized industries: telecommunications, railroads, oil and gas pipelines and refineries and electrical utilities. These industries constitute about 10% of New Mexico‘s property tax base.

 

We also gather and certify the property tax base of all 33 counties to the Department of Finance and Administration and the Public Education Department.

For more information on reporting requirements for state-assessed property, click General and Special Reporting Instructions.

Frequently Asked Questions

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Q. What is situs?

Answer:
Situs in regard to personal property is property "…physically present in the state on the date when it is required to be valued for property taxation purposes…"  That date is, in almost all cases, January 1 of the tax year. If personal property, including livestock and construction equipment, is present in the taxing jurisdiction on January 1 of the tax year, it is subject to property taxation. Livestock and construction equipment, however, are subject to yet another date. If livestock or construction equipment is present in a New Mexico taxing jurisdiction for more than 20 days after January 1, then the livestock or construction equipment is valued for property taxation as of the first day of the month after the month in which they spent the 20 days in the state. Use a basic allocation formula that prorates value according to the amount of time that livestock or construction equipment is in the state and subject to valuation for property taxation.

Q. When is the last day to file property tax reports?

Answer:
The deadline for reporting is on or before the last day of February of the tax year unless an extension is requested and approved by the division director. If the last day falls on a weekend, the deadline is on the next regularly-scheduled workday.

Q. How much more time is allowed if the extension is approved?

Answer:
The extension is granted for an additional 30 days.

Q. Can Central Assessed Bureau (CAB) forms be reproduced or generated from the computer?

Answer:
CAB forms and other industry-specific forms can be reproduced or computer-generated as long as they follow the same format as the original forms. You can also download theseforms online .

Q. Are intangible assets taxable?

Answer:
Intangible assets are not taxable.
  • Message from the Secretary
    Thank you again for making the 2012 tax-filing season a success. Largely because of your efforts, we were able to process nearly $260 million in personal income tax refunds in a timely and efficient fashion with very few errors. Read More     ​

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