Tax treatment 
Land and timber. In valuing classified lands, the 
assessor is to consider only the value which the 
land has for agricultural use. Consideration is to 
be given to soil survey data and to recommenda- 
tions of the State Farmland Evaluation Advisory 
Committee established by the Act. The Committee 
is to determine each year a range of values for each 
classification of agricultural land in the various 
areas of the State. Such values, which are advisory 
only, are based upon the productive capabilities 
of the land when devoted to agricultural uses. 
Structures located on classified land, the farm- 
house and the land on which it is located, are to 
be valued as is property in general. 
Tax administration 
In equalization for State school aid and for 
county purposes, the true value of classified land 
is to be determined on the basis of its agricultural 
use. 
NEW MEXICO 
Modified Assessment Law. 
Eligibility 
Unsubdivided agricultural land is eligible for 
modified assessment if it has been used primarily 
and principally for agriculture during the 5 pre- 
ceding years. 
Agricultural use is defined to include the pro- 
duction for sale of plants, crops, trees or forest 
products provided that gross sales, including soil 
conservation payments, have averaged at least 
$100 a year during the two preceding years or 
there is clear evidence that receipts will reach 
that figure within a reasonable period. 
Mandatory, Enacted 1967. 
Statutes 1953, Sees. 72—2-14.1 to .4. 
Tax treatment 
Land and timber. Eligible land is to be valued 
for assessment on the basis of its capacity to pro- 
duce agricultural products. Any portions of the 
_ property used for nonagricultural purposes are to 
be assessed separately. 
Tax administration 
Property values determined in connection with 
the State’s current reappraisal program are to be 
used only to equalize assessments between prop- 
erties of the same class and which are devoted to 
the same use, until such time as the Legislature 
has had an opportunity to evaluate the reappraisal 
program. 
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