State Assessed Property Bureau
What We Do
The State Assessed Property Bureau within the New Mexico Taxation & Revenue Department’s Property Tax Division is responsible for the annual valuation assessment of certain non-residential properties for ad valorem tax purposes. Commonly known as “centrally assessed”, these real and personal properties are generally complex and difficult to appraise by nature and are used in the conduct of the following specialized industries doing business in New Mexico: railroad, telecommunications, pipeline, public utility, airline, electricity generating plants, mineral property and property held or used in connection with mineral property, and multi-county construction. These industries constitute about 10% of New Mexico’s property tax base.
SAPB collaborates with the state’s thirty-three county assessors in establishing uniformity in the assessment of personal property throughout all counties in accordance with New Mexico’s ad valorem property tax laws [Articles 35-38, NMSA 1978] and distributes its assessments to the county assessors for integration with each county’s annual tax roll. SAPB compiles and certifies the property tax base of all thirty-three counties to the NM Department of Finance & Administration (DFA) for the determination of property tax rates. These compilations are also certified to the NM Higher Education Department( HED) & NM Public Education Department (PED) for budget-making purposes. The combined state and county assessments are subsequently forwarded to the county treasurers for billing and collection of property tax dollars.