2008 Property Tax Facts

Transcription

1 New Mexico Taxation & Revenue Department Property Tax Division/ Tax Research Office January, 2009

2 Contents Table: 1 Distribution of New Mexico Property Tax Obligations by Recipient Net Taxable Value by New Mexico County, 2008 Tax Year Property Tax Obligations by New Mexico County, 2008 Tax Year Per Capita Property Tax Obligations by County Net Taxable Value for Property Tax Purposes by New Mexico County, 2007 Tax Year Percent Change in Net Taxable Values New Mexico County Between 2007 and New Mexico Property Tax Obligations by County, Percent Change in Property Tax Obligations by County Between 2007 and Approximate Taxes on a Residential Property Assessed at $180,000 by Location Percent Distribution of Statewide Total Net Taxable Value by County Percent Distribution of Statewide Total Obligations by County Percent Distribution of Net Taxable Value within Counties by Property Type Percent Distribution of Property Tax Obligations within Counties by Property Type Weighted Average Property Tax Rates by County, 2008 Tax Year Property Tax Rates by Location Property Tax Year County Operating and Debt Service Rates; Imposed and Remaining Authority Residential Rate History -- Selected Municipalities Net Taxable Value by Municipality Property Tax Obligations by Municipality Veterans and Head of Household Exemptions by County Mobile Home Statistics by County Net Taxable Value and Obligations of State Assessed Property by County Net Taxable Value of State Assessed Property by Industry and County Percentage Distribution of State Assessed Property Value by Industry and County Trends in Production Equipment Net Taxable Values Selected Demographics and Housing Characteristics by County...41 Figure: 1 Essential Relationships -- Market, Assessed and Net Taxable Values Tax Year Estimated Revenue Distribution Total Net Taxable Value Through 2008 Tax Years Trends in Relative Shares of Residential and Nonresidential Net Taxable Value Statewide Property Tax Obligations: 1988 and 2008 Tax Years Trends in Residential and Non-Residential Property Tax Obligations State Debt Service Rates and Obligations 1990 through Rate Location Map Distribution of Property Tax Rates Statewide Mean and Median Property Tax Rates Recent Rate History -- Selected Municipalities State Assessed Property: Net Taxable Values State Assessed Property Obligations New Mexico s Oil, Natural Gas, Carbon Dioxide and Copper Producing Counties Trends in Oil and Gas Production Values -- Major Producing Counties Per Capita Income and Median Home Value by County...42

3 New Mexico Taxation & Revenue Department Figure 1: Essential Relationships -- Market, Assessed and Net Taxable Values and Rates Net Taxable Value x Rate = Obligations $1.394 Billion $ Billion x $27.66/$1,000* State Population $1.97 Million = Obligations Per Capita $708 * statewide average rate Market Value -- Existing Properties and New Construction - Appreciation ± Appraisal Error Assessed Value* 3 = Taxable Value - Exemptions $1.110 Billion** = Net Taxable Value $ Billion x Statewide Average Rate $27.67/$1,000 = Statewide Obligations $1.394 Billion State Population $1.97 Million = Obligations Per Capita $708 *subject to 3% limit on increases in assessed value of residential properties that are not sold **Includes $ million in head of household, $ million in veterans and $ million in veterans disability exemptions. Rate Limitations $ Billion $ Billion Factors limiting rates include: statutory maximums on voter and non-voter approved rates; the "yield control" statute that generally forces rate reductions in response to reassessment; voter approval requirements for (mostly) debt-service rates, and approval requirements for governing bodies when setting non-voter approved operating rates. The New Mexico Constitution prohibits the sum of rates imposed by governing bodies of various jurisdictions from exceeding 20 mills without voter approval. Statutes distribute the 20-mill authority as follows: municipalities, counties and school districts may impose up to 7.65 mills; mills, and.5 mills respectively -- via majority vote of governing bodies without voter approval. With voter approval, the State of New Mexico may impose debt service rates generating property tax obligations that total no more than 1 percent of statewide net taxable value. Municipalities and school districts may impose rates generating obligations totaling up to 4 percent of net taxable value with voter approval. Voter-approved rates for school districts may produce property tax obligations totaling 6 percent of net taxable value within boundaries of the associated district. -1-

4 New Mexico Taxation & Revenue Department Figure 2: 2008 Tax Year Estimated Revenue Distribution Obligations by Recipient State $63.0 Million, 4.5% Conservancy Districts $.6 Million,.0% Higher Education $137.2 Million, 9.8% Counties $427.3 Million, 30.7% Health Facilities $118.3 Million, 8.5% Municipalities $200.0 Million, 14.3% $1.394 Billion Total School Districts $447.5 Million, 32.1% Obligations by Recipient and Function State Debt Service $63.0 Million, 4.5% Conservancy Districts $.6 Million,.0% Higher Education $137.2 Million, 9.8% Health Facilities $118.3 Million, 8.5% School Ed Technology $10.9 Million,.8% School Building (HB-33) $97.7 Million, 7.0% School Capital Improvement $97.0 Million, 7.0% County Operating $389.9 Million, 28.0% County Debt Service $30.5 Million, 2.2% County Other $6.5 Million,.5% Municipal Operating $106.7 Million, 7.7% Municipal Debt Service $89.7 Million, 6.4% Municipal Other $3.5 Million,.3% School Operating $17.0 Million, 1.2% School Debt Service $224.9 Million, 16.1% Notes:1) Estimates assume 100% collection; sales of delinquent properties tend to insure this result. 2) Conservancy district figures shown above reflect only values shown on rate certificates. Other rates are sometimes imposed by the districts. 3) Sums of individual components, e.g., county operating, debt service and other, do not necessarily equal totals shown due to rounding. -2-

5 Table 1 Distribution of New Mexico Property Tax Obligations by Recipient Percent of Total Ad Valorem Ad Valorem Non- Production & Non- Production & Recipient Total Residential Residential Equipment Total Residential Residential Equipment State Debt Service $63,002,040 $34,729,050 $19,015,198 $9,257, County Operating $389,872,719 $167,678,901 $152,183,520 $70,010, County Debt Service $30,492,065 $21,367,643 $8,880,015 $244, County Other $6,489,237 $3,561,328 $1,980,646 $947, Total County $427,251,932 $192,611,397 $163,438,647 $71,201, Municipal Operating $106,725,264 $70,337,869 $35,713,588 $673, Municipal Debt Service $89,696,924 $63,670,740 $26,023,499 $2, Municipal Other $3,524,652 $2,243,770 $1,280,882 $ Total Municipal $200,033,063 $136,262,990 $63,093,583 $676, School District Operating $16,980,987 $6,547,511 $6,764,784 $3,670, School District Debt Service $224,932,163 $131,015,234 $73,413,468 $20,515, School District Capital Improvement $96,967,580 $53,130,015 $29,035,302 $14,809, School District HB-33 $97,738,929 $57,160,490 $26,702,231 $13,876, School District Educational Technology $10,853,829 $5,884,973 $4,221,311 $747, Total School District $447,494,393 $253,738,223 $140,137,096 $53,619, Other: Hospitals $118,273,984 $70,899,664 $33,109,257 $14,265, Higher Education $137,165,088 $70,374,248 $43,734,282 $24,790, Conservancy Districts $641,936 $380,272 $261,664 $ Total Other $256,081,415 $141,654,223 $77,105,300 $37,321, Grand Total $1,394,306,431 $759,591,924 $462,706,402 $172,008, Information source: compiled from rate certificate filles issued by the NM Department of Finance and Administration. -3-

6 Table 2 Net Taxable Value for Property Tax Purposes by by New Mexico County, 2008 Tax Year Ad Valorem County Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo $13,894,920,052 $10,018,143,796 $3,876,776,256 $13,894,920,052 Catron $109,261,360 $41,099,262 $68,162,098 $109,261,360 Chaves $970,352,488 $457,193,916 $413,327,331 $870,521,247 $82,974,301 $16,856,940 $99,831,241 Cibola $252,966,816 $91,746,422 $161,220,394 $252,966,816 Colfax $646,049,132 $324,710,721 $228,899,506 $553,610,227 $79,227,024 $13,211,881 $92,438,905 Curry $595,888,354 $332,712,862 $263,175,492 $595,888,354 De Baca $47,752,916 $10,555,671 $37,197,245 $47,752,916 Dona Ana $3,458,096,637 $2,287,677,885 $1,170,418,752 $3,458,096,637 Eddy $2,774,006,186 $377,403,025 $704,360,935 $1,081,763,960 $1,406,074,645 $286,167,581 $1,692,242,226 Grant $673,752,084 $330,544,420 $182,928,208 $513,472,628 $160,279,456 $160,279,456 Guadalupe $96,855,651 $24,894,468 $71,961,183 $96,855,651 Harding $46,212,946 $4,312,302 $20,517,838 $24,830,140 $18,427,683 $2,955,123 $21,382,806 Hidalgo $140,828,189 $19,385,573 $121,442,616 $140,828,189 Lea $2,929,179,076 $321,456,075 $469,076,236 $790,532,311 $1,788,854,167 $349,792,597 $2,138,646,765 Lincoln $887,828,843 $645,221,134 $242,607,709 $887,828,843 Los Alamos $735,858,590 $632,261,630 $103,596,960 $735,858,590 Luna $451,792,963 $201,683,968 $250,108,995 $451,792,963 McKinley $683,099,888 $243,329,070 $438,970,715 $682,299,785 $683,767 $116,336 $800,103 Mora $85,545,436 $49,189,728 $36,355,708 $85,545,436 Otero $825,692,128 $566,262,129 $259,429,999 $825,692,128 Quay $143,837,243 $67,613,834 $72,571,111 $140,184,945 $3,166,203 $486,095 $3,652,298 Rio Arriba $1,912,485,933 $390,237,716 $262,638,407 $652,876,123 $1,046,475,561 $213,134,249 $1,259,609,810 Roosevelt $271,866,195 $110,586,305 $140,866,398 $251,452,703 $17,098,392 $3,315,100 $20,413,492 San Juan $4,399,915,615 $1,004,143,191 $1,512,204,743 $2,516,347,934 $1,572,060,757 $311,506,924 $1,883,567,681 San Miguel $442,963,105 $296,473,387 $146,489,718 $442,963,105 Sandoval $3,244,344,944 $2,271,349,747 $965,639,567 $3,236,989,314 $6,100,474 $1,255,156 $7,355,630 Santa Fe $6,550,808,646 $4,774,246,948 $1,776,561,698 $6,550,808,646 Sierra $244,026,395 $140,873,865 $103,152,530 $244,026,395 Socorro $221,223,118 $111,920,787 $109,302,331 $221,223,118 Taos $1,167,568,443 $715,702,461 $451,865,982 $1,167,568,443 Torrance $303,069,503 $133,634,274 $169,435,229 $303,069,503 Union $130,764,909 $28,576,864 $76,174,241 $104,751,105 $22,556,646 $3,457,158 $26,013,804 Valencia $1,059,270,257 $754,593,127 $304,677,130 $1,059,270,257 Total $50,398,084,040 $27,779,736,563 $15,212,113,261 $42,991,849,824 $6,203,979,076 $1,202,255,140 $7,406,234,216 Information source: compiled from rate certificate filles issued by the NM Department of Finance and Administration. -4-

7 Table 3 Property Tax Obligations 1 by New Mexico County, 2008 Tax Year Ad Valorem County Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo $542,374,972 $372,017,176 $170,357,795 $542,374,972 Catron $1,592,825 $644,458 $948,368 $1,592,825 Chaves $24,303,165 $11,103,882 $11,038,163 $22,142,046 $1,796,101 $365,018 $2,161,120 Cibola $7,668,025 $2,575,096 $5,092,929 $7,668,025 Colfax $12,843,961 $5,984,420 $4,800,780 $10,785,200 $1,764,672 $294,089 $2,058,761 Curry $13,774,706 $7,902,722 $5,871,984 $13,774,706 De Baca $1,325,533 $301,100 $1,024,434 $1,325,533 Dona Ana $94,699,895 $58,116,125 $36,583,769 $94,699,895 Eddy $55,475,553 $8,200,276 $14,558,786 $22,759,062 $27,185,021 $5,531,470 $32,716,491 Grant $12,668,520 $5,113,792 $3,835,499 $8,949,290 $3,719,230 $3,719,230 Guadalupe $2,725,636 $636,419 $2,089,216 $2,725,636 Harding $810,843 $66,905 $367,596 $434,501 $324,323 $52,019 $376,342 Hidalgo $3,071,551 $427,674 $2,643,877 $3,071,551 Lea $75,219,144 $8,143,268 $12,797,429 $20,940,697 $45,396,716 $8,881,732 $54,278,448 Lincoln $20,350,570 $13,976,384 $6,374,185 $20,350,570 Los Alamos $12,933,947 $10,682,060 $2,251,887 $12,933,947 Luna $9,593,417 $4,049,077 $5,544,341 $9,593,417 McKinley $22,960,509 $7,455,882 $15,479,212 $22,935,094 $21,719 $3,695 $25,414 Mora $1,982,813 $1,140,101 $842,713 $1,982,813 Otero $20,218,436 $12,935,109 $7,283,327 $20,218,436 Quay $3,282,884 $1,295,297 $1,918,836 $3,214,134 $59,601 $9,150 $68,751 Rio Arriba $47,989,948 $6,632,848 $6,748,125 $13,380,974 $28,753,482 $5,855,492 $34,608,974 Roosevelt $6,260,881 $2,815,736 $3,192,803 $6,008,539 $193,664 $58,678 $252,342 San Juan $99,952,515 $21,912,820 $36,924,667 $58,837,487 $34,320,468 $6,794,559 $41,115,028 San Miguel $10,768,409 $6,419,380 $4,349,029 $10,768,409 Sandoval $81,929,189 $58,693,138 $23,054,985 $81,748,123 $150,169 $30,897 $181,066 Santa Fe $136,179,985 $89,175,531 $47,004,454 $136,179,985 Sierra $5,460,343 $3,070,472 $2,389,871 $5,460,343 Socorro $6,458,019 $3,130,402 $3,327,617 $6,458,019 Taos $17,453,683 $9,373,021 $8,080,662 $17,453,683 Torrance $7,186,256 $3,240,866 $3,945,390 $7,186,256 Union $2,421,817 $527,329 $1,448,351 $1,975,680 $386,846 $59,290 $446,137 Valencia $32,368,480 $21,833,158 $10,535,322 $32,368,480 Total $1,394,306,431 $759,591,924 $462,706,402 $1,222,298,327 $144,072,012 $27,936,092 $172,008,104 Information source: calcualted from rate certificate filles issued by the NM Department of Finance and Administration. 1 Obligations are the product of rates and net taxable value, or revenues assuming 100% collection. These are total property tax obligations of property tax owners within a particular county to all property tax recipients -- school districts, municipalities, counties and other jurisdictions within a particular county. -5-

8 Table 4 Per Capita Property Tax Obligations by New Mexico County, 2008 Tax Year Estimated Per Capita Annual Property Tax Obligations 2 Population, Non- Ad Valorem: County Total Residential residential Subtotal Production Equipment Subtot Bernalillo 614,508 $883 $605 $277 $883 Catron 3,712 $429 $174 $255 $429 Chaves 62,203 $391 $179 $177 $356 $29 $6 $35 Cibola 28,506 $269 $90 $179 $269 Colfax 14,375 $893 $416 $334 $750 $123 $20 $143 Curry 46,289 $298 $171 $127 $298 De Baca 2,256 $588 $133 $454 $588 Dona Ana 192,474 $492 $302 $190 $492 Eddy 52,167 $1,063 $157 $279 $436 $521 $106 $627 Grant 31,511 $402 $162 $122 $284 $118 $118 Guadalupe 4,743 $575 $134 $440 $575 Harding 778 $1,042 $86 $472 $558 $417 $67 $484 Hidalgo 5,966 $515 $72 $443 $515 Lea 57,006 $1,319 $143 $224 $367 $796 $156 $952 Lincoln 21,898 $929 $638 $291 $929 Los Alamos 19,864 $651 $538 $113 $651 Luna 26,394 $363 $153 $210 $363 McKinley 78,013 $294 $96 $198 $294 $0 $0 $0 Mora 5,440 $364 $210 $155 $364 Otero 63,994 $316 $202 $114 $316 Quay 10,106 $325 $128 $190 $318 $6 $1 $7 Rio Arriba 43,024 $1,115 $154 $157 $311 $668 $136 $804 Roosevelt 18,771 $334 $150 $170 $320 $10 $3 $13 San Juan 126,008 $793 $174 $293 $467 $272 $54 $326 San Miguel 30,719 $351 $209 $142 $351 Sandoval 107,104 $765 $548 $215 $763 $1 $0 $2 Santa Fe 143,306 $950 $622 $328 $950 Sierra 13,657 $400 $225 $175 $400 Socorro 18,513 $349 $169 $180 $349 Taos 31,931 $547 $294 $253 $547 Torrance 18,282 $393 $177 $216 $393 Union 4,315 $561 $122 $336 $458 $90 $14 $103 Valencia 71,459 $453 $306 $147 $453 Total/Average 1,969,292 $708 $386 $235 $621 $73 $14 $87 1 Source: New Mexico County Population Projections, July 1, 2005 to July 1, 2035, Bureau of Business and Economic Research, University of New Mexico, released August Source: calculated from information in rate certificates published by the New Mexico Department of Finance and Administration and data in chart column

9 Table 5 Net Taxable Value by New Mexico County, 2007 Tax Year Ad Valorem Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo $12,948,306,965 $9,285,156,037 $3,663,150,928 $12,948,306,965 Catron $98,015,170 $35,978,706 $62,036,464 $98,015,170 Chaves $890,733,753 $418,443,699 $376,229,143 $794,672,842 $79,914,254 $16,146,657 $96,060,911 Cibola $238,942,871 $88,108,541 $150,834,330 $238,942,871 Colfax $611,927,246 $302,296,132 $222,035,337 $524,331,469 $74,224,947 $13,370,830 $87,595,777 Curry $545,634,694 $307,743,938 $237,890,756 $545,634,694 DeBaca $46,532,795 $10,010,459 $36,522,336 $46,532,795 Dona Ana $3,126,939,435 $2,047,994,756 $1,078,944,679 $3,126,939,435 Eddy $2,564,720,465 $361,347,727 $616,540,740 $977,888,467 $1,323,126,862 $263,705,136 $1,586,831,998 Grant $617,392,474 $319,356,167 $164,773,920 $484,130,087 $133,262,387 $133,262,387 Guadalupe $96,164,716 $24,667,289 $71,497,427 $96,164,716 Harding $37,427,083 $3,825,735 $20,673,033 $24,498,768 $10,852,847 $2,075,468 $12,928,315 Hidalgo $134,312,640 $19,376,890 $114,935,750 $134,312,640 Lea $2,696,495,895 $443,977,548 $425,545,587 $869,523,135 $1,501,768,258 $325,204,502 $1,826,972,760 Lincoln $818,733,862 $596,722,602 $222,011,260 $818,733,862 Los Alamos $724,128,917 $622,840,580 $101,288,337 $724,128,917 Luna $427,305,896 $186,744,286 $240,561,610 $427,305,896 McKinley $679,484,119 $235,968,181 $443,385,499 $679,353,680 $100,520 $29,919 $130,439 Mora $80,418,155 $46,287,728 $34,130,427 $80,418,155 Otero $778,883,946 $538,950,160 $239,933,786 $778,883,946 Quay $137,108,119 $62,484,755 $72,471,745 $134,956,500 $1,813,532 $338,087 $2,151,619 Rio Arriba $1,831,540,611 $368,355,524 $265,471,475 $633,826,999 $1,000,074,789 $197,638,823 $1,197,713,612 Roosevelt $267,176,326 $104,965,443 $142,596,740 $247,562,183 $16,408,078 $3,206,065 $19,614,143 San Juan $4,257,344,247 $933,067,914 $1,453,994,097 $2,387,062,011 $1,562,765,003 $307,517,233 $1,870,282,236 San Miguel $434,827,742 $291,786,686 $143,041,056 $434,827,742 Sandoval $2,869,720,531 $2,001,646,645 $861,173,262 $2,862,819,907 $5,692,498 $1,208,126 $6,900,624 Santa Fe $6,074,890,750 $4,477,871,022 $1,597,019,728 $6,074,890,750 Sierra $221,644,554 $131,304,605 $90,339,949 $221,644,554 Socorro $208,091,139 $110,390,580 $97,700,559 $208,091,139 Taos $1,063,632,630 $663,888,261 $399,744,369 $1,063,632,630 Torrance $289,362,941 $127,918,330 $161,444,611 $289,362,941 Union $121,197,164 $26,432,656 $79,404,612 $105,837,268 $12,951,583 $2,408,313 $15,359,896 Valencia $979,497,368 $696,322,888 $283,174,480 $979,497,368 Total $46,918,535,219 $25,892,232,470 $14,170,498,032 $40,062,730,502 $5,722,955,558 $1,132,849,159 $6,855,804,717 Information Source: calculated from rate certificate files issued by the NM Department of Finance and Administration. -7-

10 Table 6 Percent Change in Net Taxable Value by County Between 2007 and 2008 Ad Valorem County Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo N/A N/A N/A Catron N/A N/A N/A Chaves Cibola N/A N/A N/A Colfax Curry N/A N/A N/A De Baca N/A N/A N/A Dona Ana N/A N/A N/A Eddy Grant N/A 20.3 Guadalupe N/A N/A N/A Harding Hidalgo N/A N/A N/A Lea Lincoln N/A N/A N/A Los Alamos N/A N/A N/A Luna N/A N/A N/A McKinley Mora N/A N/A N/A Otero N/A N/A N/A Quay Rio Arriba Roosevelt San Juan San Miguel N/A N/A N/A Sandoval Santa Fe N/A N/A N/A Sierra N/A N/A N/A Socorro N/A N/A N/A Taos N/A N/A N/A Torrance N/A N/A N/A Union Valencia N/A N/A N/A Total Information Source: calculated from rate certificate files issued by the NM Department of Finance and Administration -8-

11 New Mexico Taxation & Revenue Department $ Billions Figure 3: Total Net Taxable Value 1995 Through 2008 Tax Years Residential P r oper ties Nonresidential Properties Net taxable value is generally one-third of assessed value less exemptions. Oil, natural gas and copper production properties are included in the nonresidential category shown above. Figure 4: Trends in Relative Shares of Residential and Nonresidential Net Taxable Value Percent of Total Residential A three percent limit on annual increases in assessed value of unsold residential properties was enacted in It appears to have decreased the long-term increase in net taxable value of residential relative to nonresidential property Nonresidential Tax Year Nonresidential percentages shown above include values of copper ad valorem production properties, but not oil and gas ad valorem properties. Oil and gas producing values are extremely variable and therefore excluded. Copper producing properties were not, until 1990, production based and are thus not included in the traditional nonresidential category after tax year

12 New Mexico Taxation & Revenue Department Figure 5: Statewide Property Tax Obligations 1988 and 2008 Tax Years $ Millions 800 Approximate Annual Compound Growth Rates: Residential properties: 8.5 % Nonresidential properties: 5.5% Residential Properties Nonresidential Properties* *Excludes obligations from oil, natural gas and copper ad valorem taxes. -10-

13 New Mexico Taxation & Revenue Department $Millions 1,400 Figure 6: Trends in Residential and Non-Residential Property Tax Obligations 1,200 1, Residential Nonresidential* Total Residential Nonresidential* Total ,126 1,222 *Excludes obligations from oil and natural gas ad valorem taxes. -11-

14 New Mexico Taxation & Revenue Department Mills* 2 Figure 7: State Debt Service Rates and Obligations 1990 through 2008 State Debt Service Rates Tax Year *1 mill = $1 per thousand net taxable value. $Millions State Debt Service Obligations* Tax Year *Revenues at 100% collection based on values for rate setting purposes. -12-

15 Table 7 New Mexico Property Tax Obligations by County, 2007 Ad Valorem County Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo $505,885,114 $344,653,534 $161,231,580 $505,885,114 Catron $1,380,148 $548,649 $831,499 $1,380,148 Chaves $21,963,536 $9,956,028 $9,909,955 $19,865,983 $1,744,886 $352,667 $2,097,552 Cibola $7,201,552 $2,356,432 $4,845,120 $7,201,552 Colfax $11,512,398 $5,333,962 $4,302,529 $9,636,491 $1,589,564 $286,343 $1,875,907 Curry $12,323,775 $7,132,674 $5,191,101 $12,323,775 De Baca $1,243,414 $284,415 $958,999 $1,243,414 Dona Ana $85,372,030 $51,722,008 $33,650,022 $85,372,030 Eddy $48,561,419 $7,217,416 $12,192,506 $19,409,922 $24,306,465 $4,845,033 $29,151,497 Grant $12,147,540 $5,282,803 $3,759,327 $9,042,130 $3,105,410 $3,105,410 Guadalupe $2,925,060 $691,613 $2,233,447 $2,925,060 Harding $773,398 $76,304 $432,399 $508,702 $222,176 $42,520 $264,696 Hidalgo $2,902,873 $418,686 $2,484,186 $2,902,873 Lea $69,309,405 $7,444,806 $11,525,658 $18,970,463 $42,098,083 $8,240,858 $50,338,941 Lincoln $18,772,894 $12,878,272 $5,894,622 $18,772,894 Los Alamos $12,386,699 $10,270,330 $2,116,369 $12,386,699 Luna $8,569,466 $3,442,359 $5,127,107 $8,569,466 McKinley $22,681,652 $7,141,569 $15,535,943 $22,677,512 $3,191 $950 $4,140 Mora $1,793,887 $942,353 $851,534 $1,793,887 Otero $19,463,218 $12,570,089 $6,893,129 $19,463,218 Quay $3,096,277 $1,190,559 $1,864,673 $3,055,231 $34,596 $6,450 $41,045 Rio Arriba $38,371,367 $5,722,298 $6,025,860 $11,748,158 $22,231,467 $4,391,741 $26,623,209 Roosevelt $5,711,211 $2,383,222 $2,977,439 $5,360,661 $293,346 $57,205 $350,550 San Juan $96,089,898 $20,147,939 $35,371,168 $55,519,108 $33,900,104 $6,670,686 $40,570,790 San Miguel $10,204,264 $6,055,312 $4,148,951 $10,204,264 Sandoval $72,647,493 $52,270,707 $20,204,466 $72,475,174 $142,150 $30,169 $172,319 Santa Fe $121,419,801 $80,989,042 $40,430,759 $121,419,801 Sierra $5,043,598 $2,849,957 $2,193,642 $5,043,598 Socorro $6,064,091 $3,019,102 $3,044,989 $6,064,091 Taos $15,620,727 $8,502,258 $7,118,469 $15,620,727 Torrance $6,581,145 $2,922,005 $3,659,141 $6,581,145 Union $2,747,045 $587,671 $1,850,740 $2,438,411 $260,243 $48,391 $308,634 Valencia $29,783,883 $19,920,989 $9,862,894 $29,783,883 Total $1,280,550,278 $696,925,364 $428,720,221 $1,125,645,585 $129,931,680 $24,973,012 $154,904,692 Information Source: calculated from rate certificate files issued by the NM Department of Finance and Administration -13-

16 Table 8 Percent Change in Property Tax Obligations by County Between 2007 and 2008 Non- Ad Valorem County Total Residential residential Subtotal Production Equipment Subtotal Bernalillo N/A N/A N/A Catron N/A N/A N/A Chaves Cibola N/A N/A N/A Colfax Curry N/A N/A N/A De Baca N/A N/A N/A Dona Ana N/A N/A N/A Eddy Grant N/A 19.8 Guadalupe N/A N/A N/A Harding Hidalgo N/A N/A N/A Lea Lincoln N/A N/A N/A Los Alamos N/A N/A N/A Luna N/A N/A N/A McKinley Mora N/A N/A N/A Otero N/A N/A N/A Quay Rio Arriba Roosevelt San Juan San Miguel N/A N/A N/A Sandoval Santa Fe N/A N/A N/A Sierra N/A N/A N/A Socorro N/A N/A N/A Taos N/A N/A N/A Torrance N/A N/A N/A Union Valencia N/A N/A N/A Total Information Source: calculated from rate certificate files issued by the NM Department of Finance and Administration -14-

17 Table 9: Approximate Taxes on a Residential Property Assessed at $180,000 by Location Tax Year* Tax Tax Tax Tax Tax Tax Tax Tax County Municipality District Obligations County Municipality District* Obligations County Municipality District Obligations County Municipality District Obligations Bernalillo Albuquerque 12 In $2,269 Eddy Hope 16D In $1,502 Otero 1 OUT $1,088 San Miguel 21 OUT $753 Los Ranchos 12 In $1,692 (continued) C Out $1,003 (continued) 4 OUT $1,128 (continued) 50 $926 Tijeras 12 In $1, Out $ OUT $1,036 Santa Fe Santa Fe C IN $1,124 Corrales 2A In $1, Out $1, $1,526 Espanola 18 IN $978 Rio Rancho R1-A NR N/A Grant Silver City 1 IN $889 Quay Tucumcari 1 IN $1,374 Edgewood 8T IN $1, Out $1,634 Hurley 2H IN $1,206 House 19 IN $874 C OUT $1,036 8T $1,473 Bayard 2B IN $1,201 Logan 32 IN $1,138 1 $1, Out $1,473 Santa Clara 2C IN $1,167 San Jon 34 IN $1,465 8T $1,115 Catron Reserve 1 In $895 1 OUT $803 1 OUT $1, OUT $802 1 Out $768 2 OUT $1, OUT $609 Sierra T or C 6 IN $1,288 2 Out $1,006 Guadalupe Santa Rosa 8 IN $1, OUT $769 Williamsburg 6W IN $1,293 2A Out $1,006 Vaughn 33 IN $1, OUT $1,176 Elephant Butte 6 EB $1,331 Chaves Roswell 1 in $1,507 Roy 3 IN $994 23/47 $984 6 OUT $1,203 Hagerman 6 in $1,258 Mosquero 5 IN $ $769 Socorro Socorro 1 IN $1,728 Dexter 8 in $1,348 8 OUT $1, $615 Magdalena 12 IN $1,469 Lake Arthur 20 In $1, OUT $1,250 Rio Arriba Chama 19 IN $1,309 1 OUT $1,457 1 Out $1,064 3 OUT $913 Espanola 45 IN $1, OUT $1,423 6 Out $1,201 5 OUT $ OUT $1,160 5 $1,608 8 Out $1,325 24/25 $ $1,194 7L $1, Out $982 Hidalgo Lordsburg 1 IN $1, OUT $916 13L $1, $894 Virden 1A IN $1, $758 13T $1,368 27/28 $809 1 OUT $1,310 6T $1,116 Taos 1 IN $ $0 1A OUT $1, $840 Taos Questa 9 IN $771 1L $942 6 $900 Roosevelt Portales 1 IN $1,590 Red River 9RR IN $923 Cibola Grants 3 In $1,738 Lea Lovington 1 IN $1,726 Elida 2 IN $1,125 Taos Ski Valley 8-18 IN $886 Milan 3A In $1,775 Eunice 8 IN $1,567 Floyd 5 IN $951 1 OUT $726 3 Out $1,474 Hobbs 16 IN $1,497 Causey 39A IN $1,107 1A $726 Qmo2 $1,088 Jal 19 In $1,494 Dora 39 IN $1,085 4 $702 Colfax Cimarron 3 In $1,225 Tatum 28 IN $1,457 1 OUT $1,403 6 $979 Eagle Nest 3A In $986 1 OUT $1,450 2 OUT $1,026 9 OUT $566 Angel Fire 3B In $1,166 8 OUT $1,157 5 OUT $822 Estancia 7 IN $1,374 Raton 11 in $ OUT $1, OUT $987 Torrance Willard 7W IN $1,571 Springer 24 In $1, OUT $1,083 3 $1,160 Moriarty 8 IN $1,537 Maxwell 26 In $1, OUT $1,255 9/53 $824 Mountainair 13 IN $1,693 3 Out $903 Lincoln Ruidoso 3 IN $1,539 9A $819 Encino 16 IN $1, Out $680 Ruidoso Do 35 IN $1,692 Sandoval Bernalillo 1 IN $1,205 7 OUT $1, Out $1,313 Carrizozo 7 IN $1,453 Cuba 20 IN $1,322 8 OUT $1, Out $984 Corona 13 IN $1,239 Jemez Springs 31 IN $1, OUT $1, $834 Capitan 28 IN $930 San Ysidro 31A IN $1, OUT $1,254 Curry Clovis 1 In $1,418 3/35 OUT $1,253 Corrales 2A IN $1, / 35 $1,128 Texico 2 In $1,288 7 OUT $1,172 Rio Rancho 94 IN $1,648 Union Clayton 1 IN $1,162 Melrose 12 In $ OUT $997 1 OUT $1,056 Des Moines 22D IN $1,391 Grady 61 In $1, $1, OUT $1,106 Folsom 22F IN $1,336 1 Out $1, OUT $ out $1,045 Grenville 22G IN $1,580 2 Out $1,159 Los Alamos Los Alamos 1 $980 2AC IN $1,736 1 OUT $ Out $823 Luna Deming 1 IN $1, OUT $1, OUT $1, Out $1,192 Columbus 1A IN $1,328 San Juan Aztec 2 IN $1, $1,466 De Baca Fort Sumner 20 In $1,729 1 OUT $1,075 Farmington 5 IN $1,327 Valencia Los Lunas 1 IN $2, Out $1,600 McKinley Gallup 1 IN $1,874 Bloomfield 6 IN $1,552 Bosque Farms 1 IN $1,713 Dona Ana Las Cruces 2 In $1,565 1 OUT $1,451 2 OUT $985 Belen 2 IN $1,739 Mesilla 2D In $1,268 Zuni $1,656 5 OUT $1,243 Peralta PR IN $1,606 Sunland Park 16 In $1,772 Mora Wagon Mou12 IN $1,265 6 OUT $1,124 1 OUT $1,606 Hatch 11 In $1,681 1 $1, $1,211 2 OUT $1,405 2 Out $1, OUT $990 61/20 $1,412 3LL OUT $1, Out $1,403 12C $1,383 San MigueLas Vegas 1 IN $1,627 3BN OUT $1, Out $1,614 1-A $990 Las Vegas 2 IN $1,644 PR OUT $1,606 Eddy Carlsbad C In $1,364 Otero Alamogordo1 IN $1,491 Pecos 21 IN $782 Loving 10 In $954 Tularosa 4 IN $1,445 1 OUT $1,194 Eddy Artesia 16 In $1,292 Cloudcroft 11 IN $1,091 2 OUT $1,211 *Assumes owners qualify for $2,000 head of household exemption, hence net taxable value is $58,000. Information source: calculated from rate cerfificates issued by the NM Department of Finance and Administration. -15-

18 Table 10 Percent Distribution of Statewide Total Net Taxable Value by County 2008 Tax Year Ad Valorem County Total Residential Nonresidential Subtotal Production Equipment Subtotal Bernalillo Catron Chaves Cibola Colfax Curry De Baca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Migue Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia Total Information source: calcualted from rate certificate filles issued by the NM Department of Finance and Administration. -16-

19 Table 11 Percent Distribution of Statewide Total Obligations by County 2008 Tax Year Non- Ad Valorem County Total Residential residential Subtotal Production Equipment Subtotal Bernalillo Catron Chaves Cibola Colfax Curry De Baca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia Total Information source: calcualted from rate certificate filles issued by the NM Department of Finance and Administration. -17-

20 Table 12 Percent Distribution of Net Taxable Value Within Counties by Property Type 2008 Tax Year Non- Ad Valorem: County Total Residential residential Subtotal Production Equipment Subtotal Bernalillo Catron Chaves Cibola Colfax Curry De Baca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia Average Information source: calcualted from rate certificate filles issued by the NM Department of Finance and Administration. -18-

21 Table 13 Percent Distribution of Property Tax Obligations Within Counties by Property Type 2008 Tax Year Non- Ad Valorem: County Total Residential residential Subtotal Production Equipment Subtotal Bernalillo Catron Chaves Cibola Colfax Curry De Baca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia Average Information source: calcualted from rate certificate filles issued by the NM Department of Finance and Administration. -19-

22 Table 14 Weighted Average Property Tax Rates by County Tax Year 2 Ad Valorem All Property County Residential Nonresidential Production Equipment Types Bernalillo N/A N/A Catron N/A N/A Chaves Cibola N/A N/A Colfax Curry N/A N/A De Baca N/A N/A Dona Ana N/A N/A Eddy Grant N/A Guadalupe N/A N/A Harding Hidalgo N/A N/A Lea Lincoln N/A N/A Los Alamos N/A N/A Luna N/A N/A McKinley Mora N/A N/A Otero N/A N/A Quay Rio Arriba Roosevelt San Juan San Miguel N/A N/A Sandoval Santa Fe N/A N/A Sierra N/A N/A Socorro N/A N/A Taos N/A N/A Torrance N/A N/A Union Valencia N/A N/A Total Information source: calculated from rate certificate filles issued by the New Mexico Department of Finance and Administration. 1 Expressed in mills or $ per $1,000 in net taxable value. 2 Total obligations/total net taxable value or rate in each jurisdiction weighted by net taxable value in the jurisdiction. -20-

23 Table 15: Property Tax Rates by Location Property Tax Year Tax Non- Tax Non- County Municipality District Residential Residential Production Equipment County Municipality District Residential Residential Production Equipment Bernalillo Albuquerque 12 In Eddy Artesia 16 In Los Ranchos 12 In (continued) Hope 16D In Tijeras 12 In C Out Corrales 2A In Out Rio Rancho R1-A NR N/A Out Out Grant Silver City 1 IN T Hurley 2H IN Out Bayard 2B IN Catron Reserve 1 In Santa Clara 2C IN Out OUT Out OUT A Out Guadalupe Santa Rosa 8 IN Chaves Roswell 1 in Vaughn 33 IN Hagerman 6 in Harding Roy 3 IN Dexter 8 in Mosquero 5 IN Lake Arthur 20 In R OUT Out R OUT Out OUT Out OUT Out / Hidalgo Lordsburg 1 IN / Virden 1A IN OUT L A OUT Cibola Grants 3 In Milan 3A In Lea Lovington 1 IN Out Eunice 8 IN Qmo Hobbs 16 IN Colfax Cimarron 3 In Jal 19 In Eagle Nest 3A In Tatum 28 IN Angel Fire 3B In OUT Raton 11 in OUT Springer 24 In OUT Maxwell 26 In OUT Out OUT Out Lincoln Ruidoso 3 IN Out Ruidoso Downs 35 IN Out Carrizozo 7 IN Corona 13 IN Curry Clovis 1 In Capitan 28 IN Texico 2 In /35 OUT Melrose 12 In OUT Grady 61 In OUT Out Out OUT Out Los Alamos Los Alamos Out Luna Deming 1 IN De Baca Fort Sumner 20 In Columbus 1A IN Out OUT Dona Ana Las Cruces 2 In McKinley Gallup 1 IN Mesilla 2D In OUT Sunland Park 16 In Zuni Hatch 11 In Mora Wagon Mound 12 IN Out Out OUT Out C Eddy Carlsbad C In A Loving 10 In Source: rate certificate files issued by the New Mexico Department of Finance and Administration's Local Government Division. -21-

24 Table 15: Property Tax Rates by Location Property Tax Year (continued) Tax Non- Tax Non- County Municipality District Residential Residential Production Equipment County Municipality District Residential Residential Production Equipment Otero Alamogordo 1 IN San Miguel Pecos 21 IN Tularosa 4 IN (continued) 1 OUT Cloudcroft 11 IN OUT OUT OUT OUT OUT Santa Fe Santa Fe C IN Espanola 18 IN Quay Tucumcari 1 IN Edgewood 8T IN House 19 IN C OUT Logan 32 IN San Jon 34 IN T OUT OUT OUT Sierra T or C 6 IN OUT Williamsburg 6W IN OUT Elephant Butte 6 EB / OUT Socorro Socorro 1 IN Magdalena 12 IN Rio Arriba Chama 19 IN OUT Espanola 45 IN OUT OUT L OUT L T T Taos Taos 1 IN Questa 9 IN Roosevelt Portales 1 IN Red River 9RR IN Elida 2 IN Taos Ski Valley 8-18 IN Floyd 5 IN OUT Causey 39A IN A Dora 39 IN OUT OUT OUT OUT Torrance Estancia 7 IN OUT Willard 7W IN Moriarty 8 IN / Mountainair 13 IN A Encino 16 IN Sandoval Bernalillo 1 IN OUT Cuba 20 IN OUT Jemez Springs 31 IN OUT San Ysidro 31A IN OUT Corrales 2A IN / Rio Rancho 94 IN Union Clayton 1 IN OUT Des Moines 22D IN OUT Folsom 22F IN out Grenville 22G IN AC IN OUT OUT OUT San Juan Aztec 2 IN Farmington 5 IN Valencia Los Lunas 1 IN Bloomfield 6 IN Bosque Farms 1 IN OUT Belen 2 IN OUT Peralta PR IN OUT OUT OUT / LL OUT San Miguel Las Vegas 1 IN BN OUT Las Vegas 2 IN PR OUT Source: rate certificate files issued by the New Mexico Department of Finance and Administration's Local Government Division. -22-

25 New Mexico Taxation & Revenue Department Shiprock 22 Farmington Aztec 5 2 Bloomfield 6 Rio Arriba County San Juan County Zuni Hidalgo County McKinley County Gallup 1 Cibola County 2-A 1 Reserve QM-02 2 Catron County Grant County 1-A Virden 1 Lordsburg 6 Silver City 1 Milan 2 3 Santa 2C Clara Bayard 2B Hurley 2H Grants Luna County Deming Magdalena 12 Sandoval County Sierra County ~ Dona Ana County 19 Los Alamos Bernalillo County 5 Socorro Socorro County Williamsburg Truth or Consequences 1 Columbus Figure 8: Rate Location Map Cuba Hatch Mesilla 1 2D Sunland Park Chama 20 Jemez 31 San Springs Ysidro 31-A 94 Rio Rancho 1 Bernalillo 2-A Corrales Albuquerque Los Ranchos Tijeras 24 Los Lunas Bosque 1 Belen Farms 2 13-T T 1 C 6 45 Espanola 18 Santa Fe County 8-T Moriarty 8-T 8 7 Estancia Willard Mountainair 13-L 7-L Tularosa Santa Fe 7 Taos County Otero County 1 9 Red River Questa Taos 3-A Ski Valley Encino Valencia County Torrance County Corona Cloudcroft Alamogordo 11 Colfax County Mora County San Miguel County Lincoln County 3-B Raton 11 Las 2 Vegas Carrizozo Capitan Ruidoso Ruidoso Downs 4 39-A Causey 39 Dora -23- Taos 3 Cimarron 1 1-A Eagle Nest 3-B Ocate 10-A 4 Pecos Las Vegas 1 Maxwell 26 Springer 24 Guadalupe County 1 Chaves County 35 Eddy County Folsom Des Moines Grenville Clayton Union County Harding County 33 Quay County Santa Rosa Grady 2 Vaughn 61 House 33 9-A 1 Fort Sumner Curry 9/53 County Melrose De Baca Texico 12 Clovis County Floyd Portales 27 Elida 14 Wagon 12 Mound 12-C C Roy Roswell Dexter 16 Hope Artesia Hagerman Lake Arthur Tucumcari Carlsbad Loving 10 5 Mosquero Roosevelt County 28 1-L 28 Tatum 1 Lovington Lea County Logan 34 Hobbs Eunice Jal

26 New Mexico Taxation & Revenue Department Figure 9: Distribution of Property Tax Rates 2008 Tax Year Number of Jurisdictions Residential Properties Residential Median = 20.1 Nonresidential Median = Nonresidential Properties Oil, Natural Gas & Copper Production Properties Rate in Mills or $ per $1,000 in Net Taxable Value New Mexico properties are subject to one of 507 rate totals, depending on property type and location. Highest rates -- over 39 mills -- for residential properties are in portions of Bernalillo County (Albuquerque). The state s lowest residential rates, paid by some residents of Taos County, total mills. Highest traditional, ( i.e., non ad valorem production) nonresidential rates are paid by property owners in Albuquerque (Bernalillo County) mills, Gallup (McKinley County) mills and Los Lunas mills. Lowest rates among traditional nonresidential properties are in portions of Catron County mills. Rates paid by owners of oil, natural gas and copper production properties range from almost 32 mills in a portion portions of San Juan and McKinley County to 14.6 mills in a portion of Roosevelt County. Since 1/3rd of assessed value is taxed, a mill rate of mills represents an effective rate of 1 percent of assessed value. Statewide weighted average rates, i.e., total obligations/total net taxable value -- average mills among residential properties, mills among traditional nonresidential properties, among oil and gas producing properties, and mills among all properties Oil, Natural Gas and Copper Production Properties Median =22.7

27 Table 16 New Mexico County Operating and Debt Service Rates, Imposed and Remaining Authority, 2008 Tax Year Operating Rates (Mills or $ per $1,000 in net taxable value) Ad Valorem Imposed Debt Production Operating Remaining Service County Residential Non-residential & Equipment Rate Authority 1 Rates 2 Bernalillo N/A Catron N/A Chaves Cibola N/A Colfax Curry N/A De Baca N/A Dona Ana N/A Eddy Grant Guadalupe N/A Harding Hidalgo N/A Lea Lincoln N/A Los Alamos N/A Luna N/A McKinley Mora N/A Otero N/A Quay Rio Arriba Roosevelt San Juan San Miguel N/A Sandoval Santa Fe N/A Sierra N/A Socorro N/A Taos N/A Torrance N/A Union Valencia N/A Information source: compiled from rate certificate filles issued by the NM Department of Finance and Administration. 1 Difference between the mill maximum allowed by law and the imposed rate. 2 Applicable to all property types. -25-

28 New Mexico Taxation & Revenue Department Mills Figure 10: Means and Medians -- Statewide Average Rates Median Mean, Unweighted Mean, Weighted Residential Nonresidential Oil, Natural Gas and Copper Ad Valorem Unweighted county rates are simply the sums of rates in each tax district of each county divided the number of tax districts in each county. The statewide average unweighted average rate is the sum rates for each county divided by the total number of New Mexico counties. Weighted average rates are calculated for each county by multiplying rates in each tax district in a particular county by the fraction of taxable value in each associated tax district and summing the result. Statewide average weighted rates are are calculated by summing weighted average rates in each county multiplied by each county's share of total statewide net taxable value. Statewide Weighted Average Rates Excluding Bernalillo County Mills The rate picture shown above changes significantly when Bernalillo County rates are excluded from statewide totals. This occurs because 1) Bernalillo County accounts for 36.1 percent of the state's residential value and 25.5 percent of the state's nonresidential net taxable; and 2) Bernalillo County property tax rates are among the state's highest Residential Nonresidential -26-

29 Table 17 Residential Rate History -- Selected Municipalities Rate in Mills ($per $1,000 net taxable value) for Tax Year: Municipality Alamogordo Albuquerque Carlsbad Chama Clayton Farmington Gallup Hobbs Las Cruces Los Alamos Portales Rio Rancho Roswell Ruidoso Santa Fe Santa Rosa Silver City Taos Tucumcari Information Source: New Mexico Department of Finance and Administration rate certificate files. Mills 45 Figure 11: Recent Residential Rate History -- Selected Municipalities Albuquerque Ruidoso Las Cruces Santa Fe Tax Year -27-

30 Table 18 Net Taxable Value by Municipality Tax Year Residential Nonresidential Ad Valorem Municipality Total Values Values Subtotal Production Equipment Subtotal Alamogordo $419,557,193 $300,975,515 $118,581,678 $419,557,193 Albuquerque $11,514,516,235 $8,201,198,079 $3,313,318,156 $11,514,516,235 Angel Fire $264,434,766 $167,211,914 $97,222,852 $264,434,766 Artesia $226,526,245 $76,698,497 $149,544,715 $226,243,212 $239,875 $43,158 $283,033 Aztec $89,218,593 $59,593,553 $24,888,226 $84,481,779 $4,000,499 $736,315 $4,736,814 Bayard $17,182,131 $13,241,600 $3,940,531 $17,182,131 Belen $96,344,554 $54,906,478 $41,438,076 $96,344,554 Bernalillo $161,688,605 $92,664,997 $69,023,608 $161,688,605 Bloomfield $91,321,301 $54,124,953 $35,962,238 $90,087,191 $1,040,667 $193,443 $1,234,110 Bosque Farms $71,843,725 $58,040,008 $13,803,717 $71,843,725 Capitan $16,932,980 $13,291,223 $3,641,757 $16,932,980 Carlsbad $306,636,502 $187,819,390 $112,448,826 $300,268,216 $5,345,563 $1,022,722 $6,368,286 Carrizozo $8,752,374 $5,046,083 $3,706,291 $8,752,374 Causey $813,269 $194,451 $618,818 $813,269 Chama $20,872,393 $11,670,435 $9,201,958 $20,872,393 Cimarron $10,672,676 $7,819,391 $2,853,285 $10,672,676 Clayton $23,647,414 $13,929,292 $9,718,122 $23,647,414 Cloudcroft $38,750,249 $28,799,456 $9,950,793 $38,750,249 Clovis $397,738,718 $277,643,717 $120,095,001 $397,738,718 Columbus $10,704,902 $6,438,904 $4,265,998 $10,704,902 Corona $2,024,180 $1,001,223 $1,022,957 $2,024,180 Corrales $351,742,329 $298,714,549 $53,027,780 $351,742,329 Cuba $7,689,634 $2,588,010 $5,101,624 $7,689,634 Deming $184,778,043 $110,201,981 $74,576,062 $184,778,043 Des Moines $1,978,560 $691,387 $1,287,173 $1,978,560 Dexter $6,857,495 $5,027,452 $1,830,043 $6,857,495 Dora $649,315 $483,816 $165,499 $649,315 Eagle Nest $14,416,378 $8,151,971 $6,264,407 $14,416,378 Edgewood $83,891,565 $50,148,911 $33,742,654 $83,891,565 Elephant Butte $52,769,040 $31,877,867 $20,891,173 $52,769,040 Elida $1,480,914 $843,570 $637,344 $1,480,914 Encino $840,447 $427,619 $412,828 $840,447 Espanola $153,080,935 $87,419,324 $65,661,611 $153,080,935 Estancia $20,666,623 $5,866,496 $14,800,127 $20,666,623 Eunice $37,218,299 $9,346,537 $14,132,512 $23,479,049 $11,689,095 $2,050,155 $13,739,250 Farmington $901,408,835 $534,749,078 $350,930,329 $885,679,407 $13,400,594 $2,328,834 $15,729,428 Floyd $550,546 $373,389 $177,157 $550,546 Folsom $883,396 $364,161 $519,235 $883,396 Fort Sumner $7,790,858 $4,454,311 $3,336,547 $7,790,858 Gallup $342,283,753 $187,567,010 $154,716,743 $342,283,753 Grady $424,710 $322,352 $102,358 $424,710 Grants $102,304,470 $47,593,979 $54,710,491 $102,304,470 Grenville $338,845 $88,495 $250,350 $338,845 Hagerman $4,284,706 $3,183,987 $1,100,719 $4,284,706 Hatch $13,048,980 $5,405,060 $7,643,920 $13,048,980 Hobbs $416,879,331 $176,023,500 $153,714,853 $329,738,353 $73,361,743 $13,779,235 $87,140,978 Hope $1,820,383 $357,624 $1,462,759 $1,820,383 House $530,480 $314,780 $215,700 $530,480 Hurley $9,226,756 $8,178,478 $1,048,278 $9,226,756 Jal $10,065,445 $6,714,124 $2,248,042 $8,962,166 $933,146 $170,132 $1,103,279 Jemez Springs $8,797,919 $4,350,016 $4,447,903 $8,797,919 Lake Arthur $1,250,789 $855,765 $395,024 $1,250,

31 Table 18 Net Taxable Value by Municipality Tax Year (Continued) Residential NonResidential Ad Valorem Municipality Total Values Values Subtotal Production Equipment Subtotal Las Cruces $1,871,252,748 $1,230,811,774 $640,440,974 $1,871,252,748 Las Vegas $168,360,184 $105,809,710 $62,550,474 $168,360,184 Logan $16,608,965 $11,085,396 $5,523,569 $16,608,965 Lordsburg $30,744,681 $8,701,610 $22,043,071 $30,744,681 Los Alamos $735,858,590 $632,261,630 $103,596,960 $735,858,590 Los Lunas $278,349,637 $197,632,344 $80,717,293 $278,349,637 Los Ranchos $210,064,957 $184,726,999 $25,337,958 $210,064,957 Loving $5,047,488 $3,327,044 $1,720,444 $5,047,488 Lovington $56,518,457 $39,522,025 $16,996,432 $56,518,457 Magdalena $4,626,869 $3,295,537 $1,331,332 $4,626,869 Maxwell $2,122,019 $1,567,675 $554,344 $2,122,019 Melrose $4,965,597 $3,014,496 $1,951,101 $4,965,597 Mesilla $52,161,492 $40,766,051 $11,395,441 $52,161,492 Milan $32,264,389 $7,193,674 $25,070,715 $32,264,389 Moriarty $37,125,200 $16,210,158 $20,915,042 $37,125,200 Mosquero $644,631 $417,977 $226,654 $644,631 Mountainair $7,864,309 $5,303,359 $2,560,950 $7,864,309 Pecos $16,103,758 $12,829,740 $3,274,018 $16,103,758 Peralta $46,100,016 $40,607,827 $5,492,189 $46,100,016 Portales $98,982,932 $68,614,208 $30,368,724 $98,982,932 Questa $22,065,834 $15,274,337 $6,791,497 $22,065,834 Raton $89,936,112 $56,068,017 $33,868,095 $89,936,112 Red River $44,145,053 $26,650,459 $17,494,594 $44,145,053 Reserve $5,307,607 $2,234,130 $3,073,477 $5,307,607 Rio Rancho $2,094,127,810 $1,503,000,052 $591,127,758 $2,094,127,810 Roswell $554,833,982 $344,100,895 $210,733,087 $554,833,982 Roy $1,668,660 $1,038,612 $630,048 $1,668,660 Ruidoso $394,434,294 $311,037,939 $83,396,355 $394,434,294 Ruidoso Downs $41,699,490 $22,077,171 $19,622,319 $41,699,490 San Jon $1,354,609 $713,390 $641,219 $1,354,609 San Ysidro $2,612,801 $1,350,126 $1,262,675 $2,612,801 Santa Clara $11,586,894 $9,452,299 $2,134,595 $11,586,894 Santa Fe $3,502,776,192 $2,441,050,539 $1,061,725,653 $3,502,776,192 Santa Rosa $40,905,151 $12,823,245 $28,081,906 $40,905,151 Silver City $177,892,636 $106,732,666 $71,159,970 $177,892,636 Socorro $93,973,358 $61,797,703 $32,175,655 $93,973,358 Springer $9,886,552 $7,470,556 $2,415,996 $9,886,552 Sunland Park $140,458,774 $70,401,442 $70,057,332 $140,458,774 T or C $78,790,243 $49,822,836 $28,967,407 $78,790,243 Taos $282,046,314 $135,149,623 $146,896,691 $282,046,314 Taos Ski Valley $45,176,127 $31,143,827 $14,032,300 $45,176,127 Tatum $3,969,860 $2,513,653 $1,456,207 $3,969,860 Texico $5,221,198 $3,504,433 $1,716,765 $5,221,198 Tijeras $9,780,637 $6,700,109 $3,080,528 $9,780,637 Tucumcari $46,172,021 $22,793,728 $23,378,293 $46,172,021 Tularosa $23,892,223 $18,032,195 $5,860,028 $23,892,223 Vaughn $6,127,128 $2,162,192 $3,964,936 $6,127,128 Virden $782,042 $483,399 $298,643 $782,042 Wagon Mound $3,676,759 $2,112,901 $1,563,858 $3,676,759 Willard $1,428,551 $928,314 $500,237 $1,428,551 Williamsburg $4,663,131 $3,441,986 $1,221,145 $4,663,131 Totals $27,947,287,744 $19,110,756,766 $8,706,195,802 $27,816,952,568 $110,011,181 $20,323,994 $130,335,176 Information source: complied from rate certificate files issued by the New Mexico Department of Finance and Administration. -29-

32 Table 19 Property Tax Obligations by Municipality Tax Year Non- Ad Valorem Municipality Total Residential Residential Subtotal Production Equipment Subtotal Alamogordo $11,584,186 $7,735,974 $3,848,213 $11,584,186 Albuquerque $471,961,250 $320,830,869 $151,130,381 $471,961,250 Angel Fire $5,523,200 $3,362,130 $2,161,070 $5,523,200 Artesia $5,199,909 $1,709,073 $3,484,242 $5,193,315 $5,589 $1,006 $6,594 Aztec $2,094,074 $1,301,344 $663,794 $1,965,138 $108,894 $20,043 $128,936 Bayard $380,418 $274,260 $106,158 $380,418 Belen $3,141,303 $1,646,590 $1,494,713 $3,141,303 Bernalillo $3,533,983 $1,924,559 $1,609,423 $3,533,983 Bloomfield $2,580,944 $1,447,951 $1,093,648 $2,541,598 $33,179 $6,167 $39,346 Bosque Farms $2,194,495 $1,714,154 $480,342 $2,194,495 Capitan $289,180 $213,111 $76,069 $289,180 Carlsbad $7,278,520 $4,417,136 $2,706,756 $7,123,892 $129,796 $24,833 $154,628 Carrizozo $230,065 $126,414 $103,650 $230,065 Causey $15,441 $3,710 $11,731 $15,441 Chama $542,058 $263,413 $278,644 $542,058 Cimarron $238,844 $165,161 $73,683 $238,844 Clayton $493,630 $278,976 $214,654 $493,630 Cloudcroft $786,224 $541,833 $244,391 $786,224 Clovis $9,754,743 $6,787,556 $2,967,187 $9,754,743 Columbus $269,469 $147,406 $122,063 $269,469 Corona $47,226 $21,381 $25,845 $47,226 Corrales $8,205,626 $6,869,538 $1,336,088 $8,205,626 Cuba $199,730 $59,007 $140,723 $199,730 Deming $4,120,155 $2,325,482 $1,794,673 $4,120,155 Des Moines $51,018 $16,576 $34,442 $51,018 Dexter $168,523 $116,808 $51,715 $168,523 Dora $12,309 $9,052 $3,257 $12,309 Eagle Nest $260,925 $138,575 $122,350 $260,925 Edgewood $1,743,156 $917,575 $825,582 $1,743,156 Elephant Butte $1,230,856 $731,725 $499,132 $1,230,856 Elida $29,357 $16,369 $12,988 $29,357 Encino $19,887 $10,166 $9,722 $19,887 Espanola $3,218,135 $1,529,400 $1,688,735 $3,218,135 Estancia $473,330 $138,936 $334,394 $473,330 Eunice $1,072,913 $252,543 $394,453 $646,996 $362,362 $63,555 $425,917 Farmington $22,006,842 $12,236,128 $9,345,626 $21,581,754 $362,151 $62,937 $425,088 Floyd $9,102 $6,121 $2,981 $9,102 Folsom $21,894 $8,388 $13,506 $21,894 Fort Sumner $231,436 $132,787 $98,648 $231,436 Gallup $12,501,955 $6,060,478 $6,441,477 $12,501,955 Grady $11,917 $9,065 $2,853 $11,917 Grants $3,265,385 $1,425,963 $1,839,421 $3,265,385 Grenville $9,788 $2,410 $7,378 $9,788 Hagerman $97,621 $69,035 $28,586 $97,621 Hatch $406,972 $156,687 $250,285 $406,972 Hobbs $11,790,030 $4,544,223 $4,592,539 $9,136,761 $2,233,718 $419,550 $2,653,268 Hope $51,277 $9,260 $42,016 $51,277 House $9,553 $4,742 $4,812 $9,553 Hurley $196,611 $170,055 $26,556 $196,611 Jal $271,847 $172,983 $66,317 $239,300 $27,528 $5,019 $32,547 Jemez Springs $205,459 $94,622 $110,837 $205,459 Lake Arthur $25,387 $16,263 $9,124 $25,

33 Table 19 Property Tax Obligations by Municipality Tax Year (Continued) Non- Ad Valorem Municipality Total Residential Residential Subtotal Production Equipment Subtotal Las Cruces $53,947,142 $33,212,225 $20,734,917 $53,947,142 Las Vegas $5,217,239 $2,989,918 $2,227,321 $5,217,239 Logan $362,882 $217,573 $145,309 $362,882 Lordsburg $793,520 $224,589 $568,932 $793,520 Los Alamos $12,933,947 $10,682,060 $2,251,887 $12,933,947 Los Lunas $10,187,266 $6,888,673 $3,298,593 $10,187,266 Los Ranchos $6,278,226 $5,389,041 $889,185 $6,278,226 Loving $84,587 $54,703 $29,884 $84,587 Lovington $1,753,772 $1,175,978 $577,794 $1,753,772 Magdalena $123,021 $83,463 $39,558 $123,021 Maxwell $49,894 $33,950 $15,944 $49,894 Melrose $81,465 $49,166 $32,299 $81,465 Mesilla $1,204,549 $891,390 $313,158 $1,204,549 Milan $1,162,549 $220,141 $942,408 $1,162,549 Moriarty $985,542 $429,683 $555,859 $985,542 Mosquero $10,965 $6,494 $4,471 $10,965 Mountainair $231,881 $154,763 $77,118 $231,881 Pecos $239,695 $172,971 $66,724 $239,695 Peralta $1,307,615 $1,124,593 $183,022 $1,307,615 Portales $2,726,705 $1,880,784 $845,921 $2,726,705 Questa $330,800 $203,011 $127,789 $330,800 Raton $1,665,431 $925,515 $739,916 $1,665,431 Red River $782,423 $424,169 $358,254 $782,423 Reserve $74,583 $34,459 $40,124 $74,583 Rio Rancho $57,724,435 $42,706,243 $15,018,192 $57,724,435 Roswell $15,254,569 $8,939,741 $6,314,828 $15,254,569 Roy $31,309 $17,794 $13,516 $31,309 Ruidoso $10,864,268 $8,255,880 $2,608,388 $10,864,268 Ruidoso Downs $1,334,218 $644,101 $690,117 $1,334,218 San Jon $39,230 $18,020 $21,210 $39,230 San Ysidro $63,362 $31,667 $31,694 $63,362 Santa Clara $245,652 $190,228 $55,425 $245,652 Santa Fe $76,516,903 $47,317,324 $29,199,579 $76,516,903 Santa Rosa $1,251,898 $347,548 $904,350 $1,251,898 Silver City $3,177,074 $1,636,105 $1,540,969 $3,177,074 Socorro $2,933,804 $1,841,633 $1,092,170 $2,933,804 Springer $284,766 $201,496 $83,270 $284,766 Sunland Park $4,619,448 $2,151,468 $2,467,980 $4,619,448 T or C $1,812,669 $1,106,067 $706,602 $1,812,669 Taos $4,900,143 $1,994,673 $2,905,470 $4,900,143 Taos Ski Valley $756,125 $475,535 $280,590 $756,125 Tatum $105,966 $63,140 $42,826 $105,966 Texico $116,156 $77,798 $38,358 $116,156 Tijeras $306,336 $194,457 $111,879 $306,336 Tucumcari $1,321,033 $539,824 $781,209 $1,321,033 Tularosa $635,630 $449,182 $186,449 $635,630 Vaughn $192,849 $63,140 $129,709 $192,849 Virden $19,068 $11,659 $7,409 $19,068 Wagon Mound $87,253 $46,084 $41,169 $87,253 Willard $38,345 $25,147 $13,198 $38,345 Williamsburg $106,547 $76,760 $29,787 $106,547 Totals $887,332,913 $580,055,991 $303,410,597 $883,466,589 $3,263,216 $603,109 $3,866,324 Information source: calculated from rate certificate files issued by the New Mexico Department of Finance and Administration. -31-

34 Table 20 Veterans and Head of Household Exemptions by County, 2008 Tax Year Percent of Head of Percent of Totally Percent of Veterans 1 Residential Estimated Family 1 Residential Estimated Disabled Residential Percent of Exemptions Property Number Exemptions Property Number Veterans 1,5 Property Total Property County ($4,000) Value 2 Claimed 3 ($2,000) Value 2 Claimed 4 Exemptions Value 2 Exemptions Value 2 Bernalillo $186,658, ,665 $115,617, , ,861, $411,138, Catron $2,157, $1,034, , $3,491, Chaves $17,516, ,379 $10,681, ,341 3,201, $31,399, Cibola $5,330, ,333 $3,196, , $8,526, Colfax $4,995, ,249 $3,478, ,739 1,927, $10,400, Curry $7,337, ,834 $7,662, ,831 3,395, $18,396, De Baca $801, $537, , $1,470, Dona Ana $53,729, ,432 $31,625, ,813 17,088, $102,443, Eddy $17,022, ,256 $8,250, ,125 1,966, $27,239, Grant $8,652, ,163 $7,954, ,977 2,927, $19,534, Guadalupe $1,641, $904, , $2,785, Harding $461, $247, , $723, Hidalgo $1,627, $633, , $2,440, Lea $16,910, ,228 $6,062, ,031 2,818, $25,792, Lincoln $5,554, ,389 $4,251, ,126 3,123, $12,929, Los Alamos $4,476, ,119 $3,671, , $8,147, Luna $8,880, ,220 $4,684, ,342 1,811, $15,376, McKinley $7,274, ,819 $3,251, ,626 1,559, $12,085, Mora $2,868, $2,310, , $5,178, Otero $15,945, ,986 $15,853, , $31,798, Quay $3,580, $2,281, , , $6,425, Rio Arriba $15,428, ,857 $5,935, ,968 3,763, $25,127, Roosevelt $3,047, $2,881, , , $6,722, San Juan $20,820, ,205 $12,228, ,114 5,314, $38,362, San Miguel $8,600, ,150 $9,182, , $17,783, Sandoval $34,642, ,661 $22,872, ,436 23,992, $81,507, Santa Fe $34,052, ,513 $43,735, , $77,788, Sierra $3,805, $3,872, ,936 2,612, $10,290, Socorro $5,128, ,282 $5,019, , $10,147, Taos $13,387, ,347 $6,050, ,025 5,856, $25,293, Torrance $3,775, $4,530, ,265 1,632, $9,938, Union $1,293, $888, , $2,362, Valencia $20,689, ,172 $13,769, ,885 12,729, $47,188, Total/Aver $538,091, ,523 $365,159, , ,985, $1,110,236, Source: Abstract files submitted by county assessors and compiled by the New Mexico Taxation and Revenue Department's Property Tax Division. 2 Percent of residential net taxable value. 3 Amounts claimed/$4,000. This figure may be understated because a) some property owners do not claim the full $4,000, and b) amounts shown do not include amounts claimed against motor vehicle resistration fees. 3 Amounts claimed/$2,000. This figure may be understated because some claimants do not claim the full $2, Figures indicating the number of claimants are not currently available to the NM Taxation and Revenue Department. Additional Notes: 1) Statistics published by the New Mexico Veterans Service Commission suggest approximately 180,000 veterans currently live in New Mexico ( Since approximately 70 percent of the total New Mexico housing stock consts of owner occupied units, roughly 126,000 (.7 x 180,000) New Mexico veterans are eligible for the veterans exemption. Hence the estimated 134,000 for total claimants shown in column 3 above suggests most eligible veterans are claiming their exemption. 2) Approximately 870,000 housing units existed in New Mexico in 2008 ( Multiplying this figure by.7 suggests roughly 609,000 New Mexico households are currently eligible for the head of family exemption. Hence the 182,000 figure shown in column 7 indicates approximately one-third of households currently eligible for the head of family exemption are currently claiming it. -32-

35 Table 21 New Mexico Mobile Home Statistics by New Mexico County 2008 Tax Year Percent of Number Residential of Mobile Average Estimated Tax Per Taxable Property Homes Taxable Tax Mobile County Value Value 1 Reported Value Rank Obligations 2 Home Rank Bernalillo $52,642, ,105 $4, $1,954,858 $149 7 Catron $9,126, ,104 $8,267 2 $143,112 $ Chaves $16,621, ,495 $4, $403,696 $ Cibola $11,524, ,445 $4, $323,466 $ Colfax $8,828, ,173 $7,527 5 $162,715 $139 8 Curry $8,643, ,111 $4, $205,312 $97 24 De Baca $1,473, $5, $42,040 $163 4 Dona Ana $86,032, ,314 $4, $2,185,576 $ Eddy $21,044, ,699 $5, $457,265 $ Grant $17,757, ,385 $5, $274,726 $81 28 Guadalupe $3,626, $6,253 9 $92,719 $160 5 Harding $763, $5, $11,839 $89 27 Hidalgo $4,898, $6,919 6 $108,072 $153 6 Lea $20,280, ,347 $4, $513,749 $ Lincoln $20,132, ,617 $7,693 4 $436,089 $167 3 Los Alamos $2,608, $8,101 3 $44,072 $137 9 Luna $25,363, ,861 $6,569 8 $509,214 $ McKinley $16,419, ,019 $5, $503,101 $167 2 Mora $5,083, $5, $117,826 $ Otero $36,233, ,234 $5, $827,685 $ Quay $5,198, ,349 $3, $99,593 $74 30 Rio Arriba $23,921, ,958 $4, $406,593 $68 31 Roosevelt $5,078, ,750 $11 33 $129,317 $0 33 San Juan $62,253, ,194 $5, $1,358,530 $ San Miguel $16,722, ,766 $4, $362,086 $96 26 Sandoval $12,104, ,538 $4, $312,799 $ Santa Fe $40,117, ,719 $5, $749,330 $97 25 Sierra $14,917, ,129 $4, $325,136 $ Socorro $7,698, ,185 $3, $215,336 $99 23 Taos $13,592, ,709 $3, $178,011 $48 32 Torrance $1,738, $10,729 1 $42,153 $260 1 Union $2,607, $6,721 7 $48,118 $ Valencia $14,899, ,509 $2, $431,097 $78 29 Total/Average 3 $584,880, ,391 $4,858 N/A $13,845,914 $24 N/A Sources: abstract files submitted by county assessors and compiled by the New Mexico Taxation and Revenue Department's Property Tax Division 1 Percent of residential net taxable value. 2 Net taxable value mulitiplied by average residential rate in county. This figure assumes the spatial distribution of mobile homes in any particular county is identical to the distribution (and average tax rate) of all residential properties in any particular county. 4 Excludes figures for Roosevelt County. -33-

36 Table 22 Net Taxable Value and Obligations of State Assessed Property by County 2008 Tax Year State Percent Property Tax Percent Weighted County Assessed Value Rank of Total Obligations Rank of Total Average Rate* Rank Bernalillo $479,076, ,641, Catron $17,849, , Chaves $111,517, ,676, Cibola $47,370, ,407, Colfax $43,286, , Curry $73,894, ,596, De Baca $25,073, , Dona Ana $195,264, ,051, Eddy $471,041, ,371, Grant $36,859, , Guadalupe $35,150, , Harding $4,828, , Hidalgo $78,832, ,742, Lea $234,708, ,055, Lincoln $55,761, ,325, Los Alamos $8,046, , Luna $119,100, ,666, McKinley $251,806, ,081, Mora $11,758, , Otero $62,818, ,612, Quay $30,077, , Rio Arriba $115,308, ,984, Roosevelt $43,635, , San Juan $963,208, ,748, San Miguel $25,907, , Sandoval $115,336, ,478, Santa Fe $106,516, ,788, Sierra $26,304, , Socorro $33,514, , Taos $73,216, ,176, Torrance $73,421, ,688, Union $29,200, , Valencia $69,286, ,289, Total $4,068,981, ,019, Information sources: Property Tax Division of the New Mexico Taxation and Revenue Department files and New Mexico Department of Finance and Administration rate certificate files. -34-

37 New Mexico Taxation & Revenue Department Figure 12: Net Taxable Value of State Assessed Property by County 2008 Tax Year Bernalillo Catron Chaves Cibola Colfax Curry DeBaca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 $ Millions -35-

38 New Mexico Taxation & Revenue Department Figure 13: Tax Obligations of State Assessed Property by County 2008 Tax Year Bernalillo Catron Chaves Cibola Colfax Curry DeBaca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia $0 $5 $10 $15 $20 $25 $ Millions -36-

39 Table 23 Net Taxable Value of State Assessed Property by Industry and County in $ Millions 2008 Tax Year Water Gas County Railroads Airlines Electric 1 Utilities TC 2 Pipelines Utilities Minerals 3 Contractors Totals Bernalillo $6.93 $69.58 $ $0.30 $ $2.08 $39.53 $21.89 $9.86 $ Catron $0.00 $0.00 $13.35 $0.00 $4.49 $0.00 $0.00 $0.00 $0.00 $17.85 Chaves $11.75 $0.71 $24.12 $0.00 $17.94 $54.75 $3.35 $0.61 $0.19 $ Cibola $12.80 $0.00 $8.23 $0.00 $7.58 $15.20 $1.99 $1.56 $0.00 $47.37 Colfax $9.76 $0.00 $14.73 $0.00 $6.19 $11.48 $1.00 $0.12 $0.02 $43.29 Curry $19.50 $0.12 $17.66 $6.37 $18.74 $7.88 $2.83 $0.00 $0.77 $73.87 De Baca $14.51 $0.00 $4.33 $0.00 $1.40 $4.68 $0.00 $0.00 $0.15 $25.07 Dona Ana $27.44 $0.10 $ $0.44 $40.50 $19.17 $3.16 $0.59 $3.86 $ Eddy $15.24 $0.06 $42.28 $0.05 $19.08 $ $5.11 $ $5.47 $ Grant $5.88 $0.09 $6.68 $0.00 $8.88 $9.36 $3.62 $2.51 $0.65 $37.66 Guadalupe $20.69 $0.00 $5.95 $0.00 $3.96 $4.24 $0.00 $0.00 $0.30 $35.15 Harding $0.00 $0.00 $0.92 $0.00 $0.79 $3.12 $0.00 $0.00 $0.00 $4.83 Hidalgo $13.67 $0.00 $37.20 $0.00 $7.02 $19.89 $0.10 $0.47 $0.48 $78.83 Lea $0.27 $0.04 $50.14 $0.01 $18.36 $ $3.80 $4.39 $9.51 $ Lincoln $10.37 $0.00 $9.13 $0.00 $11.26 $20.06 $4.56 $0.00 $0.93 $56.31 Los Alamos $0.00 $0.00 $0.05 $0.00 $7.48 $0.00 $0.31 $0.00 $0.20 $8.05 Luna $21.57 $0.00 $52.86 $0.00 $8.75 $34.29 $0.17 $0.78 $0.68 $ McKinley $21.21 $0.08 $72.72 $0.00 $12.37 $90.01 $6.46 $48.56 $0.40 $ Mora $5.38 $0.00 $2.57 $0.00 $3.74 $0.00 $0.00 $0.10 $0.00 $11.80 Otero $14.23 $0.07 $19.88 $0.29 $21.90 $2.02 $2.44 $0.41 $1.58 $62.82 Quay $10.64 $0.00 $7.17 $0.00 $6.16 $4.32 $1.65 $0.04 $0.11 $30.08 Rio Arriba $0.00 $0.00 $23.17 $0.00 $9.44 $77.00 $1.94 $2.59 $1.17 $ Roosevelt $9.70 $0.00 $18.98 $0.00 $6.64 $7.47 $0.81 $0.14 $0.02 $43.76 San Juan $0.00 $0.66 $ $0.00 $26.04 $ $14.01 $ $5.27 $ San Miguel $9.12 $0.00 $8.10 $0.00 $8.33 $0.00 $0.00 $0.15 $0.21 $25.91 Sandoval $4.29 $0.00 $34.80 $0.00 $18.55 $28.54 $17.05 $8.24 $1.22 $ Santa Fe $5.58 $0.18 $35.94 $0.67 $37.86 $9.66 $10.92 $2.24 $3.46 $ Sierra $6.69 $0.00 $8.90 $0.04 $5.00 $1.49 $1.29 $2.46 $0.42 $26.30 Socorro $9.78 $0.00 $9.79 $0.00 $6.02 $6.05 $0.00 $1.66 $0.03 $33.32 Taos $0.00 $0.00 $21.82 $0.00 $8.52 $0.00 $1.96 $40.87 $0.05 $73.22 Torrance $20.51 $0.00 $17.98 $0.07 $5.21 $24.60 $0.00 $2.92 $1.01 $72.31 Union $12.80 $0.00 $7.36 $0.00 $4.65 $2.89 $0.66 $0.52 $0.32 $29.20 Valencia $18.30 $0.00 $22.65 $2.54 $10.67 $9.82 $4.03 $0.65 $0.63 $69.29 Total $ $71.69 $1, $10.78 $ $1, $ $ $48.94 $4, Information source: Property Tax Division of NM Taxation and Revenue Department files. 1 Telecommunications roperty owned by electric utilities, cooperatives and similar institutions. 2 Property owned by providers of cellular and traditional telephone services, paging, internet and similar services. 3 Property associated with severing, processing and transporting coal, potash, uranium, sand, gravel, cinder, pumice, scoria, copper and other minerals. -37-

40 Table 24 Percentage Distribution of State Assessed Property Value by Industry and County 2008 Tax Year Water Gas County Railroads Airlines Electric 1 Utilities TC 2 Pipelines Utilities Minerals 3 Contractors Totals Bernalillo Catron Chaves Cibola Colfax Curry DeBaca Dona Ana Eddy Grant Guadalupe Harding Hidalgo Lea Lincoln Los Alamos Luna McKinley Mora Otero Quay Rio Arriba Roosevelt San Juan San Miguel Sandoval Santa Fe Sierra Socorro Taos Torrance Union Valencia Total Information source: Property Tax Division of NM Taxation and Revenue Department files. 1 Telecommunications roperty owned by electric utilities, cooperatives and similar institutions. 2 Property owned by providers of cellular and traditional telephone services, paging, internet and similar services. 3 Property associated with severing, processing and transporting coal, potash, uranium, sand, gravel, cinder, pumice, scoria, copper and other minerals -38-

41 New Mexico Taxation & Revenue Department Figure 14: New Mexico s Oil, Natural Gas, Carbon Dioxide and Copper Producing Counties San Juan Rio Arriba Taos Colfax Union McKinley Cibola Los Alamos Sandoval Santa Fe Bernalillo Valencia Torrance Mora Harding San Miguel Guadalupe Quay Curry Catron Socorro Lincoln De Baca Roosevelt Chaves Grant Luna Sierra Dona Ana Otero Eddy Lea Hidalgo -39- Oil & Natural Gas Copper Carbon Dioxide