Section 64-4-11 - Registration fees. - New Mexico Statutes

64-4-11. Registration fees.

A.     The division shall collect the following registration fees:   

(1)     when the model of the aircraft is one year or less old immediately prior to the year for which it is being registered, two cents ($.02) a pound of manufacturer's maximum gross weight;   

(2)     when the model of the aircraft is two years old immediately prior to the year for which it is being registered, one and three-fourths cents ($.0175) a pound of manufacturer's maximum gross weight;   

(3)     when the model of the aircraft is three years old immediately prior to the year for which it is being registered, one and one-half cents ($.0150) a pound of manufacturer's maximum gross weight;   

(4)     when the model of the aircraft is four years old immediately prior to the year for which it is being registered, one and one-fourth cents ($.0125) a pound of manufacturer's maximum gross weight;   

(5)     when the model of the aircraft is five years or more old immediately prior to the year for which it is being registered, one cent ($.01) a pound of manufacturer's maximum gross weight;   

(6)     surplus military aircraft over five years old from date of manufacture, one cent ($.01) a pound of military placarded or certificated gross weight; and    

(7)     hot air balloons, a flat fee of ten dollars ($10.00) regardless of the age and weight of aircraft.   

B.     The fees charged in Subsection A of this section shall not exceed three hundred dollars ($300) per engine regardless of the weight or age of the aircraft.   

C.     The fees set by this section are in lieu of all personal property taxes on aircraft authorized by any law of this state. Registration certificates for part of the year issued after July 1 shall be issued at the rate of fifty percent of the annual fee.