New Mexico Court of Appeals Finds Taxpayer Not Entitled to Property Tax Exemption

The New Mexico Court of Appeals March 4 affirmed the District Court’s opinion granting summary judgment and dismissal of Taxpayer’s property tax appeal. Taxpayer challenged whether the exemption for property interests provided for by N.M. Stat. Ann. Section 7-36-3(B) (2006), is limited to property a governmental entity has an ownership interest in pursuant to the New Mexico constitution. The appeals court, relying on the precedent, noted that the constitution limits the legislature’s power to exempt property from taxation. Because there is no constitutional authority for the legislature to exempt real property by statute, section 7-36-7(B)(1) can’t grant exemptions outside those ...