3-64-5. Expiration of exemption; action of assessor.
68 words·~1 min read·
/nm/chapter-3-municipalities/article-64-development-incentives/3-64-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An exemption granted under Section 3-64-3 NMSA 1978 shall automatically terminate on the last day of the property tax year in which it expires pursuant to the exemption resolution or on the last day of the property tax year in which a new business facility ceases commercial operations, whichever occurs first.
History: Laws 1991, ch. 163, § 5; 2003, ch. 293, § 4; 2003, ch. 405, § 4.