0001|                               AN ACT
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0002| RELATING TO PROPERTY TAXATION; AUTHORIZING THE COUNTY ASSESSOR TO SEND
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0003| CERTAIN PROPERTY VALUATION NOTICES TO TAXPAYERS WITH THE PRECEDING
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0004| YEAR'S PROPERTY TAX BILLS.
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0005| 
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0006| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0007|      Section 1.  Section 7-38-20 NMSA 1978 (being Laws 1973, Chapter
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0008| 258, Section 60, as amended) is amended to read:
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0009|      "7-38-20.  COUNTY ASSESSOR AND DEPARTMENT TO MAIL NOTICES OF VAL-
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0010| UATION.--
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0011|           A.  By April 1 of each year, the county assessor shall mail a
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0012| notice to each property owner informing him of the net taxable value of
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0013| his property that has been valued for property taxation purposes by the
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0014| assessor.
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0015|           B.  By May 1 of each year, the department shall mail a notice
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0016| to each property owner informing him of the net taxable value of his
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0017| property that has been valued for property taxation purposes by the
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0018| department.
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0019|           C.  Failure to receive the notice required by this section
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0020| does not invalidate the value set on the property, any property tax
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0021| based on that value or any subsequent procedure or proceeding instituted
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0022| for the collection of the tax.
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0023|           D.  The notice required by this section shall state:
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0024|                (1)  the property owner's name and address;
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0025|                (2)  the description or identification of the property
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0001| valued;
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0002|                (3)  the classification of the property valued;
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0003|                (4)  the value set on the property for property
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0004| taxation purposes;
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0005|                (5)  the tax ratio;
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0006|                (6)  the taxable value of the property;
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0007|                (7)  the amount of any exemptions allowed and a
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0008| statement of the net taxable value of the property after deducting the
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0009| exemptions;
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0010|                (8)  the allocations of net taxable values to the
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0011| governmental units; and
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0012|                (9)  briefly, the procedures for protesting the value
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0013| determined for property taxation purposes, classification, allocation of
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0014| values to governmental units or denial of a claim for an exemption.
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0015|           E.  The county assessor may mail the valuation notice
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0016| required pursuant to Subsection A of this section to taxpayers with the
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0017| preceding tax year's property tax bills if the net taxable value of the
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0018| property has not changed since the preceding taxable year.  In this
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0019| early mailing, the county assessor shall provide clear notice to the
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0020| taxpayer that the valuation notice is for the succeeding tax year and
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0021| that the deadlines for protest of the value or classification of the
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0022| property apply to this mailing date."
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0023|      Section 2.  APPLICABILITY.--The provisions of this act apply to
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0024| notices of valuation for the 1997 and subsequent property tax years.     
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0025|                                       
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0001| 
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0002|                                                              HB
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0003| 515
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0004|                                                              Page 
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